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MDU Resources acquires construction materials provider


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MDU Resources acquires construction materials provider

MDU Resources Group Inc. has acquired Sweetman Construction Co., a provider of aggregates, asphalt and ready-mix concrete based in Sioux Falls, S.D.

Terms of the transaction were not disclosed, according to an Oct. 4 news release.

Sweetman's concrete materials business operates three asphalt plants and seven ready-mix plants, with 65 ready-mix trucks. The company has approximately 55 million tons of aggregate reserves, and also owns a rail line and a rail transloading service for construction materials delivery.

Sweetman, which does business as Concrete Material Co., will be integrated into Knife River Corp., the construction materials arm of MDU Resources which operates in Iowa, Minnesota, Nebraska, North Dakota and South Dakota.

MDU expects the acquisition to be accretive to its earnings per share.