Washington prestressed plant ranks on Knife River capex commitments

Sources: MDU Resources Group Inc., Bismarck, N.D.; CP staff Under parent MDU Resources’ five-year, $3 billion capital investment plan, Knife River Corp. has budgeted for construction of a Spokane, Wash. prestressed concrete plant and Albany, Ore. employee training center, plus development of the Honey Creek Quarry in Burnet County, Texas.

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Knife River’s Leftwich leads Texas Aggregates & Concrete Association

Source: Texas Aggregates & Concrete Association, Round Rock

Josh Leftwich will join Texas Aggregates & Concrete Association in mid-June as president and chief executive officer. He succeeds David Perkins, who has been named vice president of Government Affairs and Communications for Lehigh Hanson Inc., Irving, Texas. 

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Knife River Prestress adds Oldcastle Spokane plant

Sources: MDU Resources Group, Bismarck, N.D.; CP staff

MDU construction materials subsidiary Knife River Corp. has extended its Pacific Northwest precast/prestressed concrete production footprint, acquiring the assets of Oldcastle Infrastructure Spokane. The operation serves contractors and developers in Washington, Idaho and Oregon, and complements an existing Knife River precast/prestressed plant in the latter state. 

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Viesko Redi-Mix joins Knife River Northwest portfolio

Sources: MDU Resources Group, Inc., Bismarck, N.D.; CP staff

MDU subsidiary Knife River Corp. has acquired Oregon’s Viesko Redi-Mix, Inc., which operates Wheatland (headquarters), McMinnville and Woodburn ready mixed plants plus an aggregate site in Keizer. The acquisition complements Knife River’s existing Oregon operations and provides expansion into the growing north Willamette Valley and Portland metro markets. Viesko RM’s 60 team members join the Knife River Northwest Region, which last year added the operations of Molalla Redi-Mix and Rock Products Inc. and Teevin & Fischer Quarry LLC.

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Knife River adds South Dakota’s Sweetman/Concrete Materials

Sources: MDU Resources Group Inc., Bismarck, N.D.; CP staff

MDU Resources has closed on Sweetman Const. Co., an integrated ready mixed, aggregates and asphalt producer serving the Sioux Falls, S.D., market and operating as Concrete Materials Co. The company and its 260 employees join the North Central Region—Dakotas, Iowa, Minnesota, Nebraska—of MDU’s Knife River Corp. construction materials subsidiary. 

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Knife River expands Oregon footprint in Molalla RM deal

Sources: MDU Resources Group, Inc., Bismarck, N.D.; CP staff

MDU Resources has acquired the operations of Molalla Redi-Mix & Rock Products, Inc., a concrete producer in Molalla, Ore., south of Portland. The business joins the Portland Metro office of MDU’s construction materials subsidiary, Knife River Corp., extending its reach in a growing market between Portland and Salem.

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MDU rolls Minnesota’s Tri-City Paving into Knife River operations

Source: MDU Resources Group, Inc., Bismarck, N.D.

MDU Resources has acquired Little Falls, Minn.-based Tri-City Paving, Inc., a general contractor and ready mixed concrete, aggregate and asphalt producer. Management views it as an established company whose service area, strong aggregate supply and vertically integrated business model make it a strategic fit for the Knife River Corp. construction materials subsidiary.

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Knife River books nearly $42M gain from Tax Cuts & Jobs Act

Sources: MDU Resources Group Inc., Bismarck, N.D.; CP staff

A Tax Cuts & Jobs Act-prompted reevaluation of 2017 net deferred tax liabilities across MDU Resources produced a $41.9 million addition to fourth quarter figures for the Knife River Corp. construction materials business unit. Federal tax reform passed late last year lowers the corporate tax rate from 39 percent to 21 percent. The deferred tax liabilities gain positioned Knife River to contribute $123.4 million of MDU Resources’ $284.2 million in 2017 earnings, against respective prior year figures of $102.7 million and $232.4 million.

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Major operators affirm strong deliveries in peak season

Fall 2013 saw the release of one set of positive quarterly financials after another from New York Stock Exchange-traded companies with integrated U.S. concrete, aggregate, cement and asphalt businesses. Uniformly upbeat sales, EBITDA (earnings before interest, taxes, depreciation and amortization) and net earnings reports encompass the peak 2013 construction season; MDU Resources Group summing up conditions likely shared with peers: “The [Knife River] construction materials group had its best quarter since 2007.”

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