Otter Tail Corporation (OT4)

Overview

Otter Tail Corporation, having evolved from its original incarnation as Otter Tail Power Company in 2001, stands today as a diversified entity with a foundation deeply embedded in the United States' energy sector, specifically within Minnesota, North Dakota, and South Dakota. Founded in 1907 and based in Fergus Falls, Minnesota, the corporation orchestrates its operations through subsidiaries across three primary segments: Electric, Manufacturing, and Plastics. The Electric segment is dedicated to the generation, transmission, distribution, and sale of electric energy, participating actively in the Midcontinent Independent System Operator markets. It generates electricity using a variety of sources including coal, fuel oil, solar, wind, and natural gas, servicing a broad spectrum of residential, commercial, and industrial customers. Beyond its core utility operations, Otter Tail Corporation ventures into Manufacturing and Plastics, demonstrating a versatile approach to business by embracing sectors that complement its primary energy focus, thereby ensuring a diversified portfolio aimed at sustainable growth and operational resilience.

Products and Services

• Electric Segment:

  This segment is instrumental in producing, transmitting, distributing, and selling electric energy across key states. Utilizing a mix of coal, fuel oil, solar, wind, and natural gas, it caters to a wide array of customers, from residential to industrial, emphasizing the corporation's role as a pivotal energy provider in the Midcontinent Independent System Operator markets.

• Manufacturing Segment:

  Otter Tail Corporation's foray into the manufacturing sector is marked by a diverse offering that includes contract machining, metal parts stamping, fabrication and painting, along with the production of plastic thermoformed horticultural containers, life science and industrial packaging, and material handling components. With a focus on serving the recreational vehicle, lawn and garden, agricultural, construction, and industrial and energy equipment markets, this segment showcases the corporation's versatility and commitment to catering to a wide range of industry needs.

• Plastics Segment:

  Specializing in the production of polyvinyl chloride (PVC) pipes, this segment addresses the needs of municipal water, rural water, wastewater, storm drainage, water reclamation systems, and various other applications. Products from this segment find customers across multiple industries including horticulture, medical and life sciences, industrial sectors, recreation, and electronics, with distribution channeled through wholesalers and direct sales by independent representatives and company personnel.