All News Releases
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DMI Industries Announces Expansion Projects for North Dakota and Oklahoma Facilities
Jun 3, 2008
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Fargo, North Dakota - DMI Industries, an Otter Tail company, announced today that it will expand its facilities in West Fargo, North Dakota, and near Tulsa, Oklahoma. The expansions will increase capacity by 40% at the West Fargo plant and by 100% at the Oklahoma plant. Once completed, DMI will be the largest wind tower manufacturer in No...
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Otter Tail Corporation Announces First Quarter Earnings; Revises 2008 Earnings Guidance
May 5, 2008
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FERGUS FALLS, Minnesota - May 5, 2008 - Otter Tail Corporation (NASDAQ: OTTR) today announced financial results for the quarter ended March 31, 2008.
Highlights
First quarter revenues of $300.2 million.
Consolidated net income of $8.2 million for the first quarter of 2008 comp...
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BTD Manufacturing Acquires Miller Welding & Iron Works, Adds Heavy Metal Fabrication and Wind Energy Capabilities
May 1, 2008
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DETROIT LAKES, Minn. - BTD Manufacturing, Inc., Detroit Lakes, Minn., announced today that it has acquired Miller Welding & Iron Works of Washington, Ill. BTD Manufacturing is an operating company of Otter Tail Corporation (NASDAQ: OTTR). The transaction, the terms of which were not disclosed, involved an exchange of cash for assets.<...
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Otter Tail Power Company Announces Major Investment in Wind Energy Generation
Apr 30, 2008
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FERGUS FALLS, Minn. - Otter Tail Power Company, a division of Otter Tail Corporation (NASDAQ:OTTR), announced today that it has entered into agreements to build and own 48 megawatts of wind energy generation at a wind energy facility planned in Barnes County, North Dakota.
The 48-megawatt project would be part of a pro...
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Otter Tail Corporation Holds 2008 Annual Meeting; Shareholders Elect Directors; Board Declares Quarterly Dividend
Apr 14, 2008
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FERGUS FALLS, Minn. - Otter Tail Corporation hosted 370 shareholders and guests at its annual meeting of common shareholders on Monday, April 14 in Fergus Falls, Minn. Represented by proxy or present in person at the meeting were 84% of the corporation's total shares outstanding. Shareholders reelected Nathan Partain, and electe...
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Stefan Nilsson Appointed President of DMI Industries
Mar 31, 2008
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Stefan Nilsson has been named president of DMI Industries, a leading North American manufacturer of wind towers, effective April 1. Headquartered in West Fargo, N.D., DMI is an operating company of Otter Tail Corporation (NASDAQ:OTTR).
Prior to accepting the DMI role, Nilsson was a vice president in the U.S. Robotics Division of ABB Inc....
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Otter Tail Corporation Reports Record Revenues and Net Income from Continuing Operations for 2007; Earnings Per Share of $1.78; Board Approves Dividend Increase
Feb 5, 2008
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Otter Tail Corporation (NASDAQ: OTTR) today announced financial results for the quarter and year ended December 31, 2007.
2007 Highlights:
Consolidated revenues grew 12.1% to a record $1.2 billion in 2007.
Consolidated net i...
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Brian Gast Named President of E.W. Wylie Corporation
Feb 5, 2008
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Brian Gast has been appointed president of E.W. Wylie Corporation, a nationwide flatbed and specialized carrier and an operating company of Otter Tail Corporation. The trucking firm is headquartered in West Fargo, North Dakota, and has terminals in Des Moines, Iowa; Denver, Colorado; Minneapolis, Minnesota; and Dallas/Fort Worth, Texas.
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Leadership Appointments Announced at T.O. Plastics
Jan 2, 2008
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Mike Vallafskey has been named president and Bill Brand has been named chief operating officer of T.O. Plastics, a manufacturer of plastic products and packaging, effective January 1. T.O. Plastics, based in Clearwater, Minnesota, is an operating company of Otter Tail Corporation (NASDAQ: OTTR).
The appointments were announced by Chuck ...
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Northern Pipe to Add Large-Diameter PVC with Iowa Plant Expansion
Nov 19, 2007
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Officials at Northern Pipe Products, based in Fargo, N.D., today announced expansion plans to produce large-diameter PVC pipe at the company's plant in Hampton, Iowa. The company will add extrusion capacity for PVC sewer and water pressure pipe in diameters up to 27 inches. When completed in the fall of 2008, the expansion will increase Northern...
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Minnesota Public Utilities Commission Votes to Approve Otter Tail Power Company's Request for Interim Rates
Nov 16, 2007
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Fergus Falls, Minnesota - To address rising costs, growing energy use, and the desire of the Minnesota Public Utilities Commission (MPUC) to review current rates, Otter Tail Power Company proposed, on October 1, to increase its base rates for electric service in Minnesota for the first time since 1986.
On November 8 th...
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Big Stone II Participants File Modified Plan
Nov 13, 2007
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St. Paul, MN - November 13, 2007 - The proposed Big Stone II power plant remains the least-cost option for meeting the growing electrical demands of customers of the five regional utilities, according to revised plans presented by the utilities today to the Minnesota Public Utilities Commission (MPUC).
MPUC requested t...
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Otter Tail Corporation Announces Third Quarter Earnings and Maintains 2007 Earnings Guidance; Board of Directors Declares Dividend
Nov 1, 2007
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Otter Tail Corporation (NASDAQ: OTTR) announced financial results for the quarter ended September 30, 2007 with the following highlights:
Record third quarter revenues of $302.2 million. Consolidated net income of $13.3 million for the third quarter of 2007 compared with $13.5 million for the third quarter of 2006....
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Otter Tail Corporation Again Among 40 Best Energy Companies
Oct 15, 2007
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For the third consecutive year, Otter Tail Corporation has been recognized as one of the nation's top-performing energy companies by Public Utilities Fortnightly, a leading trade publication. The magazine evaluated financial performance of the 100 largest investor-owned electric and gas utilities and natural-gas pipeline companies in the Unite...
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Otter Tail Power Company Requests First Rate Increase Since 1986
Oct 1, 2007
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Fergus Falls, Minnesota, October 1, 2007 - To address rising costs, growing energy use, and the desire of the Minnesota Public Utilities Commission (MPUC) to review current rates, Otter Tail Power Company is proposing to increase its base rates for electric service in Minnesota for the first time since 1986.
"We have bee...
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Big Stone II Announces Participant Changes
Sep 17, 2007
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Fergus Falls, MN-Big Stone II officials announced today that Great River Energy has chosen to withdraw as an owner in the project. In addition, Southern Minnesota Municipal Power Agency will not be participating as an equity owner and is evaluating a potential capacity arrangement.
In informing the project of their ...
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Otter Tail Power Company to Own Portion of Langdon Wind Energy Center
Sep 10, 2007
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Fergus Falls, Minnesota, In March Otter Tail Power Company announced a power purchase agreement for 19.5 megawatts of electricity and its intention to own 27 of Langdon Wind Energy Center's 106 turbines, pending agreements with project developer FPL Energy. Today the company announced that it has exercised its option to own 40.5...
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Minnesota Department of Commerce and Big Stone II Project Reach Agreement on Big Stone Transmission in Minnesota
Aug 31, 2007
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St. Paul, Minnesota -- The Minnesota Department of Commerce (DOC) and the seven owners (listed below) partnering to build the Big Stone II project announced today that they have reached an agreement settling issues related to high-voltage electric transmission facilities that are planned in Minnesota as part of the proposed proj...
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Judge Recommends Approval of Big Stone Transmission Permit Application
Aug 16, 2007
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Fergus Falls, Minnesota- Minnesota administrative law judges (ALJs) have recommended that the Minnesota Public Utilities Commission (PUC) approve the Big Stone participants' application for a transmission certificate of need and routing permit. The certificate of need is necessary for the participants to construct new and upgraded transmission...
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Otter Tail Corporation Announces Strong Second Quarter Earnings and Maintains 2007 Earnings Guidance; Board of Directors Declares Dividend
Aug 6, 2007
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Otter Tail Corporation (NASDAQ: OTTR) announced financial results for the quarter ended June 30, 2007 with the following highlights:
Record quarter revenues of $305.8 million.
Record net income of $5.3 million in the manufacturing segment.
Consolidated net income from continuing operations of $16.1 million for the seco...
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