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Second Quarter 2022 Financial Results How will this impact MDU Resources current quarterly dividend? With the Bizapedia Pro Search service you will get unlimited searches via our various search forms, Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. MDU Resources company charter does not require a shareholder vote to complete the transaction. Following the planned separation, MDU Resources will remain headquartered in Bismarck, North Dakota, and continue to be the parent company for MDU Resources existing regulated electric and natural gas utilities (Cascade Natural Gas Corp., Intermountain Gas Co., Montana-Dakota Utilities Co.), natural gas pipeline business (WBI Energy, Inc.) and construction services company (MDU Construction Services Group, Inc.). [10][11] Intermountain Gas Company, serving parts of Idaho, was acquired by MDU Resources in 2008. Compelling Benefits of the Separation 02/21/2023. The company strongly encourages investors to review the consolidated financial statements in their entirety and to not rely on any single financial measure. Non-GAAP Financial Measures Post-separation, MDU Resources intends to maintain a dividend policy consistent with its historic practice. Communities Served North Dakota South Dakota Montana Wyoming By the 1960s it was decided that the company's headquarters should be located within its service territory, in Bismarck, the largest town on the system, and the relocation was completed in 1968. What is the strategic rationale for spinning off Knife River? mdu resources inc. Executive Summary. How did this transaction come about? About MDU Resources Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. Spinoff of Knife River expected to unlock significant shareholder value. It generated $321 million of EBITDA in 2021. MDU Construction Services Group has resources across the country to get any job done. With integrity, create superior shareholder value by expanding upon our expertise to be the supplier of choice in all of our markets while being a safe and great place to work. About Knife River These cookies do not store any personal information. Knife River Corporation is now among the largest sand and gravel producing companies in the U.S. For more information about MDU Resources, visitwww.mdu.comor contact the Investor Relations Department at[emailprotected]. Referrals increase your chances of interviewing at Mercury Insurance by 2x. The company's principal address . By continuing to use this application, you consent to the use of cookies in accordance with our. MDU Resources got its start in 1924 as the Minnesota Northern Power Company. As of December 31, 2017, it served 142,901 residential, commercial, industrial, and municipal customers in 178 communities and adjacent rural areas. The actual number of shares to be distributed to MDU Resources shareholders will be determined prior to closing, as will the specific transaction structure. The national average salary for an MDU Resources employee in the United States is $52,489 per year. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. We may use cookies and other similar technologies (together "cookies") to offer you a better web browsing experience and analyze usage. In addition, all pages on Bizapedia will be [8] Ten lawsuits were filed against Loy Clark in November 2018 and two of which were by insurers who had paid out claims. In 1985, the corporation realigned its operations under the name MDU Resources Group, Inc. MDU Resources is headquartered in Bismarck, ND and has 69 office locations located throughout the US. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. MDU Resources Group,Inc., founded in 1924, utilizes natural gas and coal mines. Cascade Natural Gas Corporation Headquarters is located at 8113 West Grandridge Boulevard, Kennewick . Search Keywords. These cookies may capture identifiers such as internet protocol addresses and internet or other electronic network activity information. These cookies will be stored in your browser only with your consent. MDU Resources has great employee retention with staff members usually staying with the company for 5.3 years. The words believe, continue, could, expect, anticipate, intends, estimate, forecast, project, should, may, will, would or the negative thereof and similar expressions are intended to identify such forward-looking statements. We are always looking at our business mix for opportunities to enhance shareholder value. The staff at MDU Resources come from unusually diverse demographic backgrounds. MDU Resources employees are most likely to be members of the Republican Party. Intermountain Natural Gas Headquarters is located at 555 S. Cole Road, Boise, ID 83709. MDU Resources Group, Inc. is a U.S.-based corporation supplying products and services to regulated energy delivery and utilities related construction materials and services businesses. Enter the location for your project and choose the product youd like. from 8 AM - 9 PM ET. You also have the option to opt-out of these cookies. The average employee at MDU Resources makes $52,489 per year. Although MDU Resources believes that its expectations are based on reasonable assumptions, current expectations involve a number of risks and uncertainties. Customer Service: 7:30 A.M. - 6:30 P.M. | Monday through Friday. Help other job seekers by rating MDU Resources. $4,900 to the Republican Party. These cookies may capture identifiers such as internet protocol addresses and internet or other electronic network activity information. This cookie is set by GDPR Cookie Consent plugin. These efforts demonstrate our progress and commitment to move toward our goal of creating two pure-play public companies, with one focused on regulated energy delivery and the other on construction materials.". Zippia gives an in-depth look into the details of MDU Resources, including salaries, political affiliations, employee data, and more, in order to inform job seekers about MDU Resources. It is expected that MDU Resources shareholders will retain their current shares of MDU Resources stock and also receive a pro rata distribution of shares of Knife River stock in a transaction that is expected to be tax free. Full-Time. The Company's Electric segment generates, transmits, and distributes electricity. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Knife River has more than 1 billion tons of aggregate reserves, 110 ready-mix plants, 50 asphalt plants and a combined 410,000 tons of liquid asphalt and cement storage. MDU Resources is in the electric power natural gas construction industry. But opting out of some of these cookies may have an effect on your browsing experience. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. Our Board of Directors regularly reviews opportunities to unlock value for our shareholders. We provide industry leading services with a focus on safety. The company is 37.8% female and 18.4% ethnic minorities. The company's filing status is listed as Active and its File Number is 1981716. When typing in this field, a list of search results will appear and be automatically updated as you type. The following table provides a reconciliation of consolidated GAAP net income to EBITDA for 2021. You also have the option to opt-out of these cookies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. These cookies will be stored in your browser only with your consent. mdu resources group. Skip to content Skip to main nav. Using a database of 30 million profiles, Zippia estimates demographics and statistics for MDU Resources. Our Customer Service Center can assist you with many account related requests, including checking balances, making payments, starting or stopping service, and much more. Initially, Minnesota Northern was only in the business of selling electric power, but entered the natural gas business following its discovery of oil in 1936 in the Williston Basin in Eastern Montana. Our electrical, mechanical and fire suppression services companies have deep experience in a wide variety of work across the country. Non-GAAP financial measures are not standardized; therefore, it may not be possible to compare such financial measures with other companies non-GAAP financial measures having the same or similar names. Fax: 701-323-3104. The separation will result in two independent, publicly traded and well . These cookies do not store any personal information. WBI Energy provides natural gas transportation and underground storage services through regulated pipeline systems primarily in the Rocky Mountain and northern Great Plains regions of the U.S. and provides non-regulated cathodic protection and other energy-related services. Join an amazing team that is consistently recognized for our achievements and culture, including our most recent Forbes award of being one of America's Best Midsize Employers for 2023! After submitting your request, you will receive an activation email to the requested email address. In 1997, MDU Resources started its utility services division, which over the years has expanded its construction services offerings and become the MDU Construction Services Group segment. On Nov. 3, MDU Resources announced it was undertaking a strategic review of its construction services business, MDU Construction Services Group, Inc. The board and our management team are confident that MDU Resources and Knife River will be best positioned as two focused, independent companies. MDU Construction Services Group employs more than 7,500 skilled employees across the country. Necessary cookies are absolutely essential for the website to function properly. By continuing to use this application, you consent to the use of cookies in accordance with our, Behnken named to national Innovation Institute, General foreman puts stop the bleed training into practice, saves mans life, MDU Resources Reports Third Quarter Earnings; Board Authorizes Strategic Review for MDU Construction Services Group, MDU Construction Services Group ranks No. Why isnt there a shareholder vote? This cookie is set by GDPR Cookie Consent plugin. Bachelors Degree in Business or Information Systems or Certification in Business Process Management, Or equivalent combination of education and/or experience, 5+ years in business process analysis or related experience, 3+ years in P&C insurance industry is preferred, Or equivalent combination of education, training, and/or experience, Excellent communication and analytical skills, particularly in providing status updates and providing information to key stakeholders on a regular basis, Work requires the ability to work independently and with minimum supervision, In-depth knowledge in Structured Query Language/Unified Modeling Language or equivalent languages, Knowledge in project management, change management, and organizational savvy, In-depth knowledge in product design, business and IT processes that support effective execution, Ability to effectively communicate business goals, strategies, and/or business problems to provide sound counsel and offer creative solutions, Strong analytical skills, ability to influence without authority, ability to build strong rapport and work collaboratively with others outside of the immediate business function, Ability to negotiate, influence, and compromise, Ability to concurrently manage multiple tasks/projects, with a strong track record of defining and meeting milestones and deadlines, Flexibility to work from anywhere in the United States for most positions, Paid time off (vacation time, sick time, 9 paid Company holidays, volunteer hours), Incentive bonus programs (potential for holiday bonus, referral bonus, and performance-based bonus), Medical, dental, vision, life, and pet insurance, 401 (k) retirement savings plan with company match, Professional and personal development opportunities, Health and wellbeing resources, including free mental wellbeing therapy/coaching sessions, child and eldercare resources, and more. Have you worked at MDU Resources? 10-K. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, MDU Resources Board of Directors Names Leadership for Knife River Upon Separation, MDU Resources Declares Quarterly Dividend on Common Stock. 5 on 2022 EC&M Top 50 Electrical Contractors List, Your specialty contracting services provider. None of the information on this page has been provided or approved by MDU Resources. You also have the option to opt-out of these cookies. We expect this distribution to be tax free to MDU Resources and its shareholders for U.S. federal income tax purposes. It generated $169 million of EBITDA in 2021. MDU Resources also announced today its second quarter financial results, which can be found on the companys website atwww.mdu.com. DPSC served a total of 91 towns in west-central North Dakota originally served by the Hughes Electric Company/North Dakota Power & Light Company (NDP&L) and south-central North Dakota/north-central South Dakota originally served by the Northern Power & Light Company (NP&L). We build complex, diverse projects for our customers and were always looking for team members to contribute to our success. The separation is expected to be completed in 2023. The largest addition of electric utility territory came in 1945, when MDU purchased the Dakota Public Service Company (DPSC) from NorthWestern Public Service Company (NWPS) of Huron, South Dakota. After extensive research and analysis, Zippia's data science team found that: 38% of MDU Resources employees are women, while 62% are men. The employee data is based on information from people who have self-reported their past or current employments at MDU Resources. We are a nationwide provider of power line and telecommunication wire stringing equipment and related tools. The Electric segment generates, transmits, and distributes electricity in Montana, North Dakota, South Dakota, and Wyoming. Analytical cookies are used to understand how visitors interact with the website. These cookies may capture identifiers such as internet protocol addresses and internet or other electronic network activity information. You can save your resume and apply to jobs in minutes on LinkedIn, Head of Sales - Clinical Screening Software Solutions & Partnerships, Ban Mu Thi 10 Moo 10, Pathum Thani, Thailand, Audio QA Checker (Suouth Levantine Arabic Speakers) in Palestine, Voice of Customer and Offering Excellence Lead , CrossLab Services Center of Excellence, Manager, Transition Management Onboarding, See who Mercury Insurance has hired for this role, Assist in process documentation/workflows and apply knowledge to analyze business and system procedures/workflow/data and recommend how they can be improved or automated, Assist in debugging production issues and performing User Acceptance Testing for Product/Rate Level changes across different platforms, Assist with implementation, training, and monitoring of product rollout, Work with cross-functional teams as the representative of the Product group. No. Intermountain is a subsidiary of MDU Resources Group, Inc., a multidimensional natural resources enterprise traded on the New York Stock Exchange as "MDU.". Changes in such assumptions and factors could cause actual future results to differ materially. The distribution systems in these towns passed into MDU ownership by the early 1940s. We also use third-party cookies that help us analyze and understand how you use this website. For more information, visitwww.kniferiver.com. BISMARCK, N.D., Dec. 15, 2022 /PRNewswire/ -- MDU Resources Group, Inc. (NYSE: MDU) on Wednesday submitted a confidential draft registration statement on Form 10 with the U.S. Securities and Exchange Commission in connection with the planned spinoff of its construction materials business, Knife River Corporation. Address: 1200 W Century Ave Bismarck, ND, 58503-0911 United States See other locations Phone: Website: www.mdu.com Employees (this site): Actual Employees (all sites): Actual Revenue: $5.68 billion Actual Sales Growth: 2.67% Net Income Growth: -3.09% Assets: $8,910 Fiscal Year End: DEC Year Started: Stock Exchange: NYSE:MDU ESG ranking: Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. When will Knife River shares be distributed? by Terry Hildestad. Who is MDU Resources Group Headquarters 1200 W Century Ave, Bismarck, North Dakota, 58503, United States Phone Number (701) 530-1000 Website www.mdu.com Revenue $5.9B Stock Symbol MDU Industry Electricity, Oil & Gas Energy, Utilities & Waste Treatment MDU Resources Group's Social Media Is this data correct? It has an unusually high proportion of employees who are members of the Republican Party, at 73.0%. The employees at The Williams Companies earn an average yearly salary of $72,686 per year, and the salaries at Peabody Energy average $70,107 per year. Its founder, Rolland Heskett, had previously been involved with utilities in Wisconsin and northeast Minnesota (the forerunners of Wisconsin Public Service Corporation and Minnesota Power (& Light Co.), respectively). MDU Resources had announced on Aug. 4 its intent to separate Knife River as an independent, publicly traded company. This is a growing company where the executive leadership really focuses on a work/life balance. Post-spinoff, MDU Resources intends to maintain a policy consistent with its historic practices. When MDU examined DPSC's books after the purchase, they spent the next six years in litigation with NWPS over allegations of improper internal charges between NWPS, NP&L, and NDP&L. Subsidiaries to MDU Resources include Young Brothers Inc Contractors. Forward-Looking StatementThe information in this release includes certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Statement of Changes in Beneficial Ownership. 1150 W. Century Ave. Amazing things happen when you're having fun and doing something you love. The average employee at MDU Resources makes $52,489 per year. Annual Report. Company Mdu Resources Group Inc. To protect our site, we cannot process your request right now. The USC Career Center is open - in person and online - as always, all of our services and resources are available to you, including advising, job and internship opportunities, programs, workshops, career fairs, and more. Updates will be provided as the company moves toward completing the spinoff. This website uses cookies to improve your experience while you navigate through the website. The separation will result in two independent, publicly traded and well-capitalized companies, which the MDU Resources board believes will leave each positioned well for durable growth and shareholder value creation. Supervised and managed all personnel, work activities and . MDU Construction Services Group is comprised of 16 local operating companies employing more than 8,500 skilled workers during peak season and has been ranked the fourth largest U.S. electrical contractor. Mahmoud Siddig, Joele Frank, Wilkinson Brimmer Katcher, 212-355-4449 Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. This website uses cookies to improve your experience while you navigate through the website. It performs integrated contracting services. MDU Resources has 69 locations in the United States. 1015 1200 W. Century Ave. Bismarck, ND 58503 Email MDU Construction Services Group, Inc. Tom Nosbusch 701-530-1352 1150 W. Century Ave. Bismarck, ND 58503 Email WBI Energy, Inc. Melinda Steckler 701-530-1025 or 800-437-8000, ext. Media Contact:Laura Lueder, MDU Resources manager of communications and public relations, 701-530-1095 company profile page along with the rest of the general data. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. MDU Construction Services Group provides a full spectrum of construction solutions, from underground utilities and excavation to electrical, mechanical and fire suppression systems as well as transmission and distribution line construction. Claiming and updating your company profile on Zippia is free and easy. In 2001, Knife River sold its remaining coal-mining interests. Project Managers are responsible for planning, implementing, and managing projects. 400 N. Fourth St. 1025 1250 W. Century Ave. Bismarck, ND 58501 These factors include, but are not limited to, risks relating to the impact of the COVID-19 pandemic on the business (including impacts on employees and contractors and disruptions to operations and the supply chain); new or changing laws and regulations impacting the business (including changes in pipeline safety regulations and environmental law); supply chain disruptions (including price fluctuations and supply of materials necessary for operations); the adverse impact of cyberattacks on operations; competitive factors including technological advances and customer demands; pricing and market pressures; ability to successfully integrate any businesses acquired; issuance of new or revised accounting standards; risks associated with the impact, timing or terms of the spinoff; risks associated with the expected benefits and costs of the spinoff, including the risk that the expected benefits of the spinoff will not be realized within the expected timeframe, in full or at all, and the risk that conditions to the spinoff will not be satisfied and/or that the spinoff will not be completed within the expected timeframe, on the expected terms or at all; the expected qualification of the spinoff as a tax-free transaction for U.S. federal income tax purposes, including whether or not an IRS ruling will be sought or obtained; the risk that any consents or approvals required in connection with the spinoff will not be received or obtained within the expected timeframe, on the expected terms or at all; risks associated with expected financing transactions undertaken in connection with the spinoff and risks associated with indebtedness incurred in connection with the spinoff; the risk that dis-synergy costs, costs of restructuring transactions and other costs incurred in connection with the spinoff will exceed estimates; and the impact of the spinoff on the businesses and the risk that the spinoff may be more difficult, time consuming or costly than expected, including the impact on resources, systems, procedures and controls, diversion of managements attention and the impact on relationships with customers, suppliers, employees and other business counterparties, as well as the various important factors listed in Part I, Item 1A Risk Factors in MDU Resources Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2021, which was filed with the SEC on Feb. 23, 2022, and subsequent filings with the SEC. This category only includes cookies that ensures basic functionalities and security features of the website. This cookie is set by GDPR Cookie Consent plugin. In the late 1960s, MDU partnered with NWPS and Otter Tail Power in the construction of the Big Stone power plant near Big Stone City, South Dakota. Looking for Montana-Dakota Utilities? Foshay interests this property today comprises Otter Tail Power's Bemidji division), the Eastern Montana Light & Power Company, centered around Sidney and Glendive, Montana, and the Eastern Montana Utilities Co., which was based in Fairview, Montana. We believe the spinoff will create many compelling benefits, including: With a successful track record of organic and M&A-driven growth, we have built Knife River into a leading aggregates-based construction materials business. Creates financial and strategic flexibility for each company to focus on core business opportunities. See if MDU Resources is hiring near you. The employee data is based on information from people who have self-reported their past or current employments at MDU Resources. J.P. Morgan Securities LLC and PJT Partners are serving as financial advisors for the transaction; Wachtell, Lipton, Rosen & Katz is serving as legal advisor. When is the spinoff expected to be completed? Denver CO. An upstream oil and gas company part of the MDU Resources Group family of companies. They ensure a project is completed on time and within budget. View original content to download multimedia. It is mandatory to procure user consent prior to running these cookies on your website. Our construction services bring power to communities and neighborhoods across the country. Posted: January 31, 2023. MDU Resources Group, Inc. is a U.S.-based corporation supplying products and services to regulated energy delivery and utilities related construction materials and services businesses. It served approximately 938,867 residential, commercial, and industrial customers in 335 communities and adjacent rural areas. "With the substantial progress we have made, we are expecting the spinoff of Knife River to be complete in the second quarter of 2023," said David L. Goodin, president and CEO of MDU Resources. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. SEC Filings. 7% of MDU Resources employees are Hispanic or Latino. The cookies is used to store the user consent for the cookies in the category "Necessary". To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. It also provides cathodic protection and other energy-related services. ESI, Inc. honored with industry Safety Achievement Award for outstanding injury and illness statistics Analytical cookies are used to understand how visitors interact with the website. Employee Directory. For more information about MDU Resources, visit the company's website at www.mdu.com. Advisors MDU Resources may also be known as or be related to MDU Resources, MDU Resources Group, MDU Resources Group Inc and MDU Resources Group, Inc. We calculated the diversity score of companies by measuring multiple factors, including the ethnic background, gender identity, and language skills of their workforce. Help us make this company more transparent. It also distributes cement and asphalt oil. Loading. They ensure a project is completed on time and within budget. The Natural Gas Distribution segment distributes natural gas in Montana, North Dakota, South Dakota, and Wyoming, as well as Idaho, Minnesota, Oregon, and Washington; and offers related value-added services. This website uses cookies to improve your experience while you navigate through the website. BISMARCK, N.D., Dec. 15, 2022 /PRNewswire/ -- MDU Resources Group, Inc. (NYSE: MDU) on Wednesday submitted a confidential draft registration statement on Form 10 with the U.S. Securities and .