It’s Business, And It’s Personal

Aberdeen Carolina & Western Railway Co. Shops formed in Candor

On Behalf of | Aug 16, 2013 | Business Formation & Planning |

The short railway line recently announced the creation of a new subsidiary. The child company, ACWR Shops LLC, will focus on providing repair and retrofitting services for passenger cars, freight cars and locomotives. The firm also began renovating the old Commodore Homes Corp. location on the Candor stretch of Highway 220 in an effort to establish a home base.

ACWR intends to refit about 91,000 square feet of warehouse space into a modern locomotive repair shop. The new facility will include 4,600 feet of track and an up-to-date locomotive pit. The firm intends to invest over $3 million in rebuilding its headquarters over the next five years as well as create 25 new employment positions. According to ACWR officials, part of the funding used for establishing a corporation and securing the necessary equipment was provided by the North Carolina Department of Transportation, the Montgomery County Economic Development Corp., the Town of Candor, Duke Energy Progress and other organizations.

ACWR officials say that the firm’s old facility in Star had already reached its capacity limits. They also claim that this recent entity formation was gaining some interest from firms that require locomotive repair work.

Business formations can be complicated. Multiple partners are often required to fund ventures and ensure that the initial investment provides sustainable returns. In addition, these partners may seek stake in the resultant entity or other dispensations as a reward for their participation. Attorneys who practice business law may often help businesses plan expansion ventures so that they can realize their long-term goals.

Source: Progressive Railroading, “Aberdeen Carolina & Western creates locomotive, car repair subsidiary“, August 13, 2013