One major North Dakota company is set to become two

MDU Resources Group and Knife River
MDU Resources Group and Knife River(KFYR-TV)
Published: Aug. 5, 2022 at 4:26 PM CDT
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BISMARCK, N.D. (KFYR) - MDU Resources Group, Inc. announced Thursday its board of directors has approved a plan to separate its construction materials business, Knife River Corporation, from the company.

The separation is expected to be completed in 2023.

“We are taking an important step to significantly enhance the value inherent in our businesses by creating two focused, independent publicly traded companies,” said David L. Goodin, president and CEO of MDU Resources.

The company’s utilities provide electric and natural gas service to 1.2 million customers across eight states.

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