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Knife River Acquires Oregon Construction Materials Firm


MDU Resources Group Inc.'s subsidiary Knife River Corp. acquired Viesko Redi-Mix, Inc., a ready-mix concrete supplier headquartered near Salem, Ore.

Viesko, which does business as Viesko Quality Concrete, is based in Wheatland, Ore., about 12 miles north of Salem and 40 miles southwest of Portland. The acquisition complements Knife River's existing Oregon operations and provides expansion for Knife River into the growing north Willamette Valley and Portland Metro markets.

Financial details of the acquisition were not disclosed. MDU Resources anticipates the acquisition will be accretive to earnings per share.

Founded in 1948, Viesko is a vertically integrated business with ready-mix plants in Wheatland, Woodburn and McMinnville, Ore., and an aggregate operation in Keizer, Ore. Viesko's 60 team members join Knife River's growing Northwest Region, which last year acquired the operations of Molalla Redi-Mix and Rock Products Inc., and Teevin & Fischer Quarry LLC.

"Knife River has a long and proud history in Oregon, and we believe it has a very bright future there as well," said David L. Goodin, president and CEO of MDU Resources. "Viesko also has a proud history of serving its Oregon customers. This is another good acquisition for Knife River. We welcome the Viesko employees to our team and look forward to continued success."

This acquisition is the sixth in the last 11 months for Knife River.

"As we continue to grow our business, we are looking for companies like Viesko: Well-run operations in growing markets where we have familiarity," said David C. Barney, president and CEO of Knife River. "We have a lot of experience in Oregon, and we're excited to further expand our footprint."