{"id":401349,"date":"2020-12-16T16:28:38","date_gmt":"2020-12-16T21:28:38","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=401349"},"modified":"2020-12-16T16:28:38","modified_gmt":"2020-12-16T21:28:38","slug":"knife-river-acquires-wyoming-construction-materials-business","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/knife-river-acquires-wyoming-construction-materials-business\/","title":{"rendered":"Knife River Acquires Wyoming Construction Materials Business"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">BISMARCK, N.D.<\/span>, <span class=\"xn-chron\">Dec. 16, 2020<\/span> \/PRNewswire\/ &#8212; Knife River Corporation announced today it has expanded its Intermountain Region footprint by acquiring the assets of McMurry Ready-Mix Co., an aggregates and concrete supplier based in <span class=\"xn-location\">Casper, Wyoming<\/span>. Knife River is the construction materials subsidiary of MDU Resources Group, Inc. (NYSE: MDU) and operates in 15 states. <\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/435402\/MDUR_logo_Logo.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/435402\/MDUR_logo_Logo.jpg\" title=\"MDU Resources logo\" alt=\"MDU Resources logo\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>McMurry&#8217;s estimated aggregate reserves of nearly 100 million tons are strategically positioned throughout central <span class=\"xn-location\">Wyoming<\/span>, including along interstates 25 and 80. The company also has a ready-mix plant on the west side of <span class=\"xn-location\">Casper<\/span>, complementing Knife River&#8217;s east <span class=\"xn-location\">Casper<\/span> location. Knife River&#8217;s Intermountain operations also include <span class=\"xn-location\">Cheyenne<\/span> and <span class=\"xn-location\">Laramie, Wyoming<\/span>, as well as locations throughout <span class=\"xn-location\">Montana<\/span> and <span class=\"xn-location\">Idaho<\/span>.<\/p>\n<p>&#8220;We have enjoyed steady growth in central and southeastern <span class=\"xn-location\">Wyoming<\/span> for 20 years, and we expect this acquisition to help us support our customers for the next 20 and well beyond,&#8221; said <span class=\"xn-person\">David C. Barney<\/span>, Knife River president and CEO. &#8220;<span class=\"xn-location\">Casper<\/span> has been a good market for us. We know and respect the McMurry team, and it is great to have their employees join Knife River.&#8221;<\/p>\n<p>McMurry&#8217;s aggregates operations will do business as Knife River Materials and will continue their focus on supplying third-party customers as well as Knife River&#8217;s own operations. The ready-mix plant and employees will join Knife River&#8217;s existing construction operations in <span class=\"xn-location\">Casper<\/span>.<\/p>\n<p>Financial details of the transaction were not disclosed. This is Knife River&#8217;s seventh acquisition in the last three years.<\/p>\n<p>&#8220;Knife River is having another strong year \u2013 posting higher earnings through the first nine months of this year than any first three quarters in company history,&#8221; said <span class=\"xn-person\">David L. Goodin<\/span>, president and CEO of MDU Resources. &#8220;Aggregates-rich acquisitions such as McMurry support our ongoing growth strategy, and we continue to pursue other growth opportunities at Knife River as well.&#8221;<\/p>\n<p>\n        <b>Forward-Looking Statements <br \/><\/b><br \/>\n        <i>Information in this release includes certain forward-looking statements, within the meaning of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release, including an aggregate reserve estimate and statements by the president and CEO of MDU Resources and the president and CEO of Knife River, are expressed in good faith and are believed by the company to have a reasonable basis. Nonetheless, actual results may differ materially from the projected results expressed in the forward-looking statements. For a discussion of important factors that could cause actual results to differ materially from those expressed in the forward-looking statements, refer to Item 1A \u2013 Risk Factors in MDU Resources&#8217; most recent Form 10-K and Form 10-Q.<\/i>\n      <\/p>\n<p>\n        <b>About Knife River <br \/><\/b><br \/>\n        <i>Knife River Corporation mines aggregates and markets crushed stone, sand, gravel and related construction materials, including ready-mix concrete, cement, asphalt, liquid asphalt and other value-added products. It also performs integrated construction services. <\/i><br \/>\n        <i>For more information about Knife River, visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3015285-1&amp;h=1110841344&amp;u=http%3A%2F%2Fwww.kniferiver.com%2F&amp;a=www.kniferiver.com\" rel=\"nofollow noopener noreferrer\">www.kniferiver.com<\/a>. \u00a0<\/i>\n      <\/p>\n<p>\n        <b>About MDU Resources <br \/><\/b><br \/>\n        <i>MDU Resources Group, Inc., a member of the S&amp;P MidCap 400 index and the S&amp;P High-Yield Dividend Aristocrats index, is Building a Strong America<sup>\u00ae<\/sup> by providing essential products and services through its regulated energy delivery and construction materials and services businesses. <\/i><br \/>\n        <i>For more information about MDU Resources, visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3015285-1&amp;h=2619339886&amp;u=http%3A%2F%2Fwww.mdu.com%2F&amp;a=www.mdu.com\" rel=\"nofollow noopener noreferrer\">www.mdu.com<\/a> or contact the Investor Relations Department at <a target=\"_blank\" href=\"mailto:investor@mduresources.com\" rel=\"nofollow noopener noreferrer\">investor@mduresources.com<\/a><\/i>.<\/p>\n<p>\n        <b>Financial Contact: <br \/><\/b><br \/>\n        <span class=\"xn-person\">Jason Vollmer<\/span>, vice president and chief financial officer, 701-530-1755<\/p>\n<p>\n        <b>Media Contacts:\u00a0 <br \/><\/b><br \/>\n        <span class=\"xn-person\">Tony Spilde<\/span>, Knife River communications, 541-693-5949<br \/><span class=\"xn-person\">Laura Lueder<\/span>, MDU Resources communications, 701-530-1095<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CG26349&amp;sd=2020-12-16\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/knife-river-acquires-wyoming-construction-materials-business-301194559.html\">http:\/\/www.prnewswire.com\/news-releases\/knife-river-acquires-wyoming-construction-materials-business-301194559.html<\/a><\/p>\n<p>SOURCE  MDU Resources Group, Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=CG26349&amp;Transmission_Id=202012161625PR_NEWS_USPR_____CG26349&amp;DateId=20201216\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire BISMARCK, N.D., Dec. 16, 2020 \/PRNewswire\/ &#8212; Knife River Corporation announced today it has expanded its Intermountain Region footprint by acquiring the assets of McMurry Ready-Mix Co., an aggregates and concrete supplier based in Casper, Wyoming. Knife River is the construction materials subsidiary of MDU Resources Group, Inc. (NYSE: MDU) and operates in 15 states. McMurry&#8217;s estimated aggregate reserves of nearly 100 million tons are strategically positioned throughout central Wyoming, including along interstates 25 and 80. The company also has a ready-mix plant on the west side of Casper, complementing Knife River&#8217;s east Casper location. Knife River&#8217;s Intermountain operations also include Cheyenne and Laramie, Wyoming, as well as locations throughout Montana and Idaho. &#8220;We have enjoyed steady growth &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/knife-river-acquires-wyoming-construction-materials-business\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Knife River Acquires Wyoming Construction Materials Business&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-401349","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Knife River Acquires Wyoming Construction Materials Business - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/knife-river-acquires-wyoming-construction-materials-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Knife River Acquires Wyoming Construction Materials Business - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire BISMARCK, N.D., Dec. 16, 2020 \/PRNewswire\/ &#8212; Knife River Corporation announced today it has expanded its Intermountain Region footprint by acquiring the assets of McMurry Ready-Mix Co., an aggregates and concrete supplier based in Casper, Wyoming. Knife River is the construction materials subsidiary of MDU Resources Group, Inc. (NYSE: MDU) and operates in 15 states. McMurry&#8217;s estimated aggregate reserves of nearly 100 million tons are strategically positioned throughout central Wyoming, including along interstates 25 and 80. The company also has a ready-mix plant on the west side of Casper, complementing Knife River&#8217;s east Casper location. Knife River&#8217;s Intermountain operations also include Cheyenne and Laramie, Wyoming, as well as locations throughout Montana and Idaho. &#8220;We have enjoyed steady growth &hellip; Continue reading &quot;Knife River Acquires Wyoming Construction Materials Business&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/knife-river-acquires-wyoming-construction-materials-business\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-16T21:28:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/435402\/MDUR_logo_Logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/knife-river-acquires-wyoming-construction-materials-business\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/knife-river-acquires-wyoming-construction-materials-business\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Knife River Acquires Wyoming Construction Materials Business\",\"datePublished\":\"2020-12-16T21:28:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/knife-river-acquires-wyoming-construction-materials-business\\\/\"},\"wordCount\":576,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/knife-river-acquires-wyoming-construction-materials-business\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/435402\\\/MDUR_logo_Logo.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/knife-river-acquires-wyoming-construction-materials-business\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/knife-river-acquires-wyoming-construction-materials-business\\\/\",\"name\":\"Knife River Acquires Wyoming Construction Materials Business - 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Knife River is the construction materials subsidiary of MDU Resources Group, Inc. (NYSE: MDU) and operates in 15 states. McMurry&#8217;s estimated aggregate reserves of nearly 100 million tons are strategically positioned throughout central Wyoming, including along interstates 25 and 80. The company also has a ready-mix plant on the west side of Casper, complementing Knife River&#8217;s east Casper location. Knife River&#8217;s Intermountain operations also include Cheyenne and Laramie, Wyoming, as well as locations throughout Montana and Idaho. &#8220;We have enjoyed steady growth &hellip; Continue reading \"Knife River Acquires Wyoming Construction Materials Business\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/knife-river-acquires-wyoming-construction-materials-business\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-16T21:28:38+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/435402\/MDUR_logo_Logo.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/knife-river-acquires-wyoming-construction-materials-business\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/knife-river-acquires-wyoming-construction-materials-business\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Knife River Acquires Wyoming Construction Materials Business","datePublished":"2020-12-16T21:28:38+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/knife-river-acquires-wyoming-construction-materials-business\/"},"wordCount":576,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/knife-river-acquires-wyoming-construction-materials-business\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/435402\/MDUR_logo_Logo.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/knife-river-acquires-wyoming-construction-materials-business\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/knife-river-acquires-wyoming-construction-materials-business\/","name":"Knife River Acquires Wyoming Construction Materials Business - 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