MDU Resources expects to complete Knife River spinoff in 2Q23

MDU Resources submitted a confidential draft registration statement on Form 10 with the U.S. SEC in connection with the planned spinoff of its construction materials business, Knife River Corporation. MDU Resources expects the spinoff of Knife River will be complete in the second quarter of 2023. "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 Goodin, president and CEO of MDU Resources. "Our strategic review of our construction services business also is well underway. 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." The company anticipates completing the strategic review in the first half of 2023.