North Dakota-based construction materials producer Knife River has purchased the Teevin & Fischer's (T&F's) quarry in Seaside in a $5m deal – according to a report by the Daily Astorian. David C. Barney, Knife River’s president and CEO, said in release that the acquisition is a strategic fit which also signals the company's growth.
The quarry provides crushed rock and other construction aggregates to regional contractors and the state Department of Transportation, along with retail landscaping materials.
Tony Spilde, a spokesperson from KnifeRiver, stated that the long-term deal is not based on a specific project and that the company intends to rehire T&F's the 10 existing employees.
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