MDU Resources Group Inc. (MDU) is a public corporation listed on the New York Stock Exchange, operating as a diverse, multi-faceted utilities and construction service provider. MDU Resources has its roots in Montana-Dakota Utilities Co., founded in 1920 and hence the name MDU. From a modest start, the company has grown steadily over the centuries, diversifying a long way from its original business of selling lignite coal to locals. The group is now diversified into several operations comprising natural gas distribution, pipeline, construction materials supply, contracting services, and different utility services which makes them an unconventional but comprehensive utilities service provider.
Headquartered in Bismarck, North Dakota, the primary sectors in which MDU Resources operates include regulated energy delivery and construction materials and services. Naturally, the portfolio of their operations is diverse, and they serve a wide range of customers without geographical constraints.
Their regulated energy delivery businesses include electric and natural gas utilities. The utilities division provides natural gas distribution services to over 1 million customers spread across five states, while their electric utility services offer nearly 143,000 customers in Montana. MDU Resources also maintains a fully regulated independent power production business and owns a regulated interstate natural gas pipeline and a regulated natural gas storage business.
The construction materials and services sector of the company offers products and services through businesses that construct and improve infrastructure across the country. This ranges from producing construction materials that include aggregates, asphalt and ready-mix concrete, to offering various contracting services such as construction and maintenance of highways, airports, commercial and residential developments, among other undertakings.
MDU Resources' business model focuses on organic growth, strategic acquisitions, and targeting cost-effective, practical solutions for energy delivery and infrastructure construction. Over the years, the company has proven its resilience, staying profitable through changing economic, environmental and regulatory landscapes. Today, MDU Resources Group Inc. stands as a beacon of diverse and strategic growth in the utilities sector.