Bismarck, N.D., Feb 28 — Knife River Corporation (NYSE: KNF) announced today that it has acquired Morgan Asphalt Inc., an aggregates-based asphalt paving company in the Salt Lake City, Utah, area.
Morgan serves public and private-sector customers across northern Utah. Operations include:
Aggregate crushing and production, with well over 30 years of proven reserves.
Asphalt production, with a plant in the west Salt Lake City area.
Contracting services, including asphalt paving, excavating and grading.
“We’re excited about this strategic expansion of our Mountain Region and establishing a footprint in one of the fastest-growing states in the nation,” said Brian Gray, Knife River President and CEO. “Thom Morgan, Matt Morgan and their team have built an excellent reputation in the market, and this acquisition provides Knife River a growth platform that will be integrated into our existing regional operations. We’re excited to welcome Morgan Asphalt to the Knife River team ahead of the 2026 construction season, and we look forward to additional growth opportunities across our 15-state footprint.”
Morgan employs approximately 250 people during peak construction season.