Knife River Corporation has reaffirmed its operating strategy and focus on long-term business performance following new engagement with shareholder Starboard Value LP.
The Bismarck, North Dakota-based construction materials and contracting company issued the statement September 24, 2026, after receiving a letter from Starboard. Knife River said it first became aware of Starboard’s investment on September 22 and plans to engage with the investment firm to understand its views.
The company said its board and management regularly review opportunities to create shareholder value while continuing to execute its existing business strategy.
Knife River said its strategy since becoming an independent public company in 2023 has centered on pricing optimization, operational improvements and efficiency initiatives. The company said these efforts are intended to strengthen margins and support profitable growth.
The business operates a vertically integrated platform covering aggregates, ready-mix concrete, asphalt, liquid asphalt and contracting services. Its contracting operations serve publicly funded transportation projects as well as industrial, commercial and residential construction markets.
Knife River’s materials operations include mining and marketing crushed stone, sand, gravel and other construction products used across infrastructure and building projects.
The company said it remains focused on margin expansion, operational excellence, capital allocation and profitable growth as it evaluates opportunities in the current market environment.
Knife River’s integrated model allows its materials and contracting operations to work across multiple stages of construction activity. The platform includes both material production and contracting services, with transportation infrastructure representing an important portion of its project activity.
The company also said it will continue engaging with shareholders while maintaining its current strategic priorities.
Knife River’s statement provides insight into the strategic priorities of a major U.S. construction materials supplier and contractor. Its focus on vertically integrated operations, pricing, efficiency and capital allocation reflects the importance of cost management and operational performance across construction markets.
The company’s response to Starboard also places attention on how construction and infrastructure businesses are balancing shareholder engagement with ongoing investments in materials production and contracting capabilities.
Source: KNF.
