Otter Tail Corporation, commonly known as OTTR, is a diversified company that operates in the utilities, manufacturing, and plastics industries. The company is headquartered in Fergus Falls, Minnesota, with operations spreading across the United States. The corporation was established in 1907, primarily as a power company, but has expanded its business sectors over the years.
In the utilities sector, Otter Tail Corporation operates via its subsidiary, Otter Tail Power Company, which provides electricity to more than 250,000 people in Minnesota, North Dakota, and South Dakota. The company generates its energy from a combination of sources such as coal, hydroelectric, wind, and natural gas, with a commitment to decrease dependence on coal and significantly increase renewable energy sources.
In the manufacturing sector, Otter Tail Corporation operates through its manufacturing brands, BTD Manufacturing and T.O. Plastics. BTD provides custom metalwork services including molding, forming, and finishing, catering mainly to the construction, recreational products, and the industrial equipment industry. T.O. Plastics, on the other hand, is specialized in the design, development, and manufacturing of thermoformed plastic products that serve a variety of industries including medical, packaging, and consumer products.
As for the plastics segment, Otter Tail's operation is through its PVC pipe manufacturing company, Northern Pipe Products. The PVC pipes produced are used in sanitary sewer, water, and wastewater systems.
The corporation's success over the years is largely attributed to its diversity in business operations. It has a strong financial performance reflected in a record of steady dividend payments for over 75 years. Otter Tail is traded on the NASDAQ exchange under the ticker symbol OTTR.
The company continues to be a significant player in the regions it serves, with a reputation for its commitment to sustainability, community development, and providing reliable services. In the years to come, Otter Tail Corporation aims to continue expanding and diversifying its businesses, while upholding its commitment to environmental stewardship and corporate responsibility.
Apart from its operating sectors, Otter Tail Corp. also contributes Kenora generating station to the Renewable World Energy tracks, dedicated to approach sustainability. It has a keen focus on reducing greenhouse gas emissions and managing resources efficiently. The company's commitment also extends to maintaining a safe and healthy workplace for all its employees, and it invests in training and development to ensure continuous improvement in operational performance. In essence, Otter Tail Corporation is a true embodiment of a diversified, forward-thinking business with a strong sense of social responsibility.