Borgward is surely an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in the actual 1960s. The Borgward group made four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's grandson, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the company's first new car throughout over 40 years, the BX7 at the particular 2015 International Motor Present.The origins of Bremen's most significant auto-business return to 1905 with the establishment in nearby Varel on the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself regarding "Namag", maker of the Lloyd auto. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economic situation then confronting Germany, the business failed to prosper and from the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand this scope of his auto business, and he took control than it.
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The primary "automobile" Carl Borgward created was the 1924 Blitzkarren (super cart), a sort of little three-wheeled van with 3 hp (1. 5 kW), which was an enormous success already in the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the even now three wheeler timber framed synthetic leather bodied 5 or perhaps 7 hp Goliath Founder. Borgward turned his awareness of the other businesses and led the development on the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 and also in 1939 the name was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from organizations he had acquired over the years to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business at a time of austerity and rationing. For many purposes the lenders would be run being a single entity, but in a business operated by way of a man to whom delegation didn't come naturally the expansion of legal entities nevertheless added unhelpful layers of complexity with the 1950s and encouraged a broadening with the range which in the end proved financially unsustainable with all the sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.One of many top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's most favored model and remained in production with the life of the organization. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers in the late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (which has been also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such while air suspension and programmed transmission, the company had trouble competing available on the market. While larger companies just like Opel and VW took good thing about economies of scale and also kept their prices low to realize market share, Borgward's cost structure was even above necessary for its dimensions, as it basically managed as four tiny independent companies and never implemented such basic cost reduction strategies as shared development and parts sharing involving the company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced to be a water-cooled boxer with top wheel drive, but plagued with problems like water leakage and gearbox errors. Lloyd lost money on the car though it was more expensive than its direct competitors.In 1961, the company was compelled into liquidation by credit card companies. Carl Borgward died throughout July 1963, still insisting the company have been technically solvent. This proved to be true inside the sense that after the creditors were paid entirely, there was still four. 5 million Marks remaining from the business.
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Accounts of difficulties at Borgward surfaced within an article that appeared in Germany's leading news publication, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly vital of Carl Borgward's business approach, and included many on the arguments later advanced to spellout or justify the company's demise. The widest range associated with cars from any supplier in Germany, produced by three right up until recently operationally autonomous companies (Borgward, Goliath and Lloyd) has been supporting a turnover regarding only 650 million Signifies, placing the overall sales value from the combined Borgward auto organizations only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation associated with new and modified versions featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") gave rise to components which excessively did not work, broke down or dropped apart, resulting in massive bills for pre-delivery remediation and/or submit delivery warranty work that found their in the past to the company.The December 1960 Spiegel article wasn't the only serious community criticism targeting Borgward at this time: suddenly stridently negative (in the event that more succinct) comments also turned up in the influential mass-market Bild newspaper and in television studies. Critical media commentaries also appeared concerning large loans on the Borgward Group provided because of the local Landesbank.It is apparent that the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses for instance auto manufacturing use their particular expensive machines and tools most efficiently when they use them constantly on full capacity, but the car market in Europe in the 1950s/60s was more temporary than today, with sales diminishing with Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was greater than usual, reflecting ambitious growth options, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered because of the North American dealers with 1960 (and in the 12, 000 delivered to these) 6, 000 might have being taken back following a slump in United states demand. (Borgward was not the only real European auto maker hit by a North American slump in demand for imported cars during 1960. In the same season two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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At the conclusion of December 1960 Borgward approached the lender for a further just one million Marks of credit, the loan to be backed by a guarantee from the Bremen regional government which initially the Bremen senators agreed to provide. However, following the flood regarding critical press comment the particular senators withdrew their guarantee. They now required Carl Borgward to pledge the organization itself to the state in return 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 some February 1961, thereby averting the bankruptcy with the business.The Bremen Senate furthermore insisted on appointing its own nominee as chairman from the company’s supervisory board. The man they decided to go with was Johannes Semler with whom reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice to the breadth of Semler’s profession. He had studied regulation at university and worked initially like a lawyer. The scion of a leading Hamburg political family, in 1945 he received himself been a founding member of the centre-right CSU bash, and was a member of the Bundestag between 1950 as well as 1953. Despite his Hamburg sources, Semler was by now based in Munich, with a network of contacts inside the Bavarian establishment that almost certainly included fellow CSU politician as well as 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 be able to chair the Borgward supervisory table would, in retrospect, contribute to the debate that followed the Borgward chapter 7.
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In 28 July 1961 Semler, as Chairman of the supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling this company to continue to trade while simultaneously protecting the interests connected with creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his very own, never had any intention of allowing the Borgward auto-businesses for you to survive.
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