Borgward is usually an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in your 1960s. The Borgward group generated four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's grandson, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the firm's first new car with over 40 years, the BX7 at this 2015 International Motor Present.The origins of Bremen's most significant auto-business resume 1905 with the establishment in nearby Varel of the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself of "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economy then confronting Germany, the business failed to prosper and because of the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand this scope of his automobile business, and he took control of it.
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The primary "automobile" Carl Borgward created was the 1924 Blitzkarren (lightning cart), a sort of small three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the still three wheeler timber framed synthetic leather bodied 5 or even 7 hp Goliath Leading. Borgward turned his care about the other businesses along with led the development on the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 as well as in 1939 the brand was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from businesses he had acquired in the past to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business at a time of austerity and rationing. For many purposes the businesses would be run like a single entity, but in a business operated by way of a man to whom delegation wouldn't come naturally the proliferation of legal entities however added unhelpful layers of complexity from the 1950s and encouraged a broadening with the range which finally proved financially unsustainable while using the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.One of many top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most popular model and remained in production for your life of the organization. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (which has been also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such as air suspension and computerized transmission, the company had trouble competing available on the market. While larger companies like Opel and VW took good thing about economies of scale in addition to kept their prices low to realize market share, Borgward's cost structure was even higher than necessary for its dimension, as it basically handled as four tiny independent companies and do not implemented such basic cost reduction strategies as articulation development and parts sharing relating to the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced like a water-cooled boxer with entry wheel drive, but plagued with problems such as water leakage and gearbox glitches. Lloyd lost money on the car just about the most was more expensive as compared to its direct competitors.In 1961, the company was forced into liquidation by creditors. Carl Borgward died in July 1963, still insisting the company were being technically solvent. This proved to be true within the sense that after your creditors were paid 100 %, there was still 5. 5 million Marks left over from the business.
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Reviews of difficulties at Borgward surfaced within an article that appeared in Germany's leading news newspaper, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly important of Carl Borgward's company approach, and included many on the arguments later advanced to go into detail or justify the businesses demise. The widest range associated with cars from any company in Germany, produced by three right up until recently operationally autonomous businesses (Borgward, Goliath and Lloyd) has been supporting a turnover regarding only 650 million Scars, placing the overall sales value from the combined Borgward auto firms only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation regarding new and modified models featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") provided rise to components which all too often did not work, broke down or chop down apart, resulting in massive payments for pre-delivery remediation and/or publish delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article has not been the only serious community criticism targeting Borgward at this time: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild newspapers and in television studies. Critical media commentaries additionally appeared concerning large loans for the Borgward Group provided by the local Landesbank.It is apparent which the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses for example auto manufacturing use their expensive machines and tools most efficiently if they use them constantly in full capacity, but the car market in Europe from the 1950s/60s was more seasonal than today, with sales diminishing within Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars right at the end of 1960 was beyond usual, reflecting ambitious growth ideas, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered by the North American dealers with 1960 (and with the 12, 000 delivered to these people) 6, 000 might have to get taken back following a slump in North american demand. (Borgward was not really the only European auto maker hit by the North American slump sought after for imported cars while in 1960. In the same season two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
Towards the end of December 1960 Borgward approached the financial institution for a further one particular million Marks of credit rating, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators decided provide. However, following the flood of critical press comment the particular senators withdrew their assurance. They now required Carl Borgward to pledge the business itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported within a still hostile media, Borgward agreed to the actual senate’s terms on several February 1961, thereby averting the bankruptcy from the business.The Bremen Senate also insisted on appointing its very own nominee as chairman on the company’s supervisory board. The man they decided was Johannes Semler to whom reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice towards breadth of Semler’s career. He had studied legislation at university and worked initially being a lawyer. The scion of a number one Hamburg political family, in 1945 he acquired himself been a founding member of the centre-right CSU bash, and was a person in the Bundestag between 1950 and 1953. Despite his Hamburg beginning, Semler was by now based in Munich, with a network of contacts in the Bavarian establishment that almost certainly included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position inside Bizone. The appointment of Johannes Semler because the representative of the Bremen senators to chair the Borgward supervisory panel would, in retrospect, contribute to the debate that followed the Borgward chapter 7.
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About 28 July 1961 Semler, as Chairman of this supervisory board joined the directors from the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the company to continue to trade while at the same time protecting the interests associated with creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of their own, never had any goal of allowing the Borgward auto-businesses to be able to survive.
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