MDU Resources completed the spin off of Knife River.

MDU Resources, a provider of essential products and services, completed the spin off of Knife River, a provider of construction materials. Financial terms were not disclosed. "The board regularly assesses MDU Resources' business, operations and value creation opportunities. Our most recent assessment determined that a separation of Knife River could unlock significant value. Since its first aggregate company acquisition in 1992, MDU Resources has built Knife River into a leading aggregates-based construction materials business. The MDU Resources board believes Knife River is ready to continue its success as a stand-alone public company and take full advantage of anticipated work resulting from federal infrastructure funding. We will diligently work through the separation process to ensure each company is optimized to deliver value for shareholders," Dennis W. Johnson, MDU Resources Chairman.