MDU Resources Group Inc. has acquired the operations of Teevin & Fischer Quarry LLC, a leading aggregate producer on the north Oregon coast.
Teevin & Fischer will become part of Knife River Corp., the construction materials subsidiary of MDU Resources. Financial details of the acquisition were not disclosed.
MDU Resources anticipates the acquisition will be accretive to 2018 earnings per share.
Teevin & Fischer provides crushed rock and gravel to construction and retail customers in the Clatsop County area.
“We are excited to expand into the northwest Oregon market and are happy to welcome Teevin & Fischer to Knife River,” said David C. Barney, Knife River president and CEO. “We have extensive operations in Oregon, and this acquisition is a great strategic fit for us. It also signals that Knife River is in growth mode. Our company was built on strategic acquisitions, and we are looking forward to completing more deals in the right markets. This is an exciting time for us.”
Knife River mines aggregates and markets crushed stone, sand,gravel and related construction materials, including ready-mix concrete, cement, asphalt, liquid asphalt and other value-added products. It also performs integrated construction services.