Borgward is an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in the particular 1960s. The Borgward group developed four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's grand son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from China investment, and unveiled the firm's first new car inside over 40 years, the BX7 at this 2015 International Motor Present.The origins of Bremen's most significant auto-business get back on 1905 with the business in nearby Varel from the "Hansa Automobilgesellschaft" and the foundation in Bremen itself connected with "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and with the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand this scope of his vehicle business, and he took control of the usb ports.
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The initial "automobile" Carl Borgward created was the 1924 Blitzkarren (super cart), a sort of small three-wheeled van with 2 hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered some of them for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the nevertheless three wheeler timber presented synthetic leather bodied 5 or maybe 7 hp Goliath Master. Borgward turned his focus on the other businesses along with led the development with the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 and also in 1939 the identify was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from companies he had acquired over the years to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business at a time of austerity and rationing. For many purposes the businesses would be run to be a single entity, but in a business operated with a man to whom delegation would not come naturally the proliferation of legal entities nonetheless added unhelpful layers of complexity with the 1950s and encouraged a broadening on the range which finally proved financially unsustainable with all the sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.One of the top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most favored model and remained in production for that life of the corporation. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (which was also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such since air suspension and computerized transmission, the company had trouble competing in the market. While larger companies like Opel and VW took selling point of economies of scale and kept their prices low to gain market share, Borgward's cost structure was even greater than necessary for its size, as it basically controlled as four tiny independent companies and do not implemented such basic cost reduction strategies as mutual development and parts sharing involving the company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced being a water-cooled boxer with entry wheel drive, but plagued with problems for example water leakage and gearbox mistakes. Lloyd lost money on the car though it was more expensive compared to its direct competitors.In 1961, the company was pushed into liquidation by lenders. Carl Borgward died with July 1963, still insisting the company was technically solvent. This proved to be true within the sense that after the particular creditors were paid completely, there was still several. 5 million Marks left from the business.
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Studies of difficulties at Borgward surfaced in a article that appeared in Germany's leading news journal, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly vital of Carl Borgward's organization approach, and included many of the arguments later advanced to explain or justify the company's demise. The widest range regarding cars from any supplier in Germany, produced by three until eventually recently operationally autonomous firms (Borgward, Goliath and Lloyd) has been supporting a turnover connected with only 650 million Signifies, placing the overall sales value from your combined Borgward auto corporations only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation associated with new and modified versions featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") afforded rise to components which many times did not work, broke down or chop down apart, resulting in massive payments for pre-delivery remediation and/or submit delivery warranty work that found their in the past to the company.The December 1960 Spiegel article has not been the only serious open public criticism targeting Borgward at the moment: suddenly stridently negative (in the event more succinct) comments also turned up in the influential mass-market Bild newspapers and in television accounts. 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 right at the end of 1960. Capital intensive businesses like auto manufacturing use his or her expensive machines and tools most efficiently if they use them constantly from full capacity, but the car market in Europe in the 1950s/60s was more seasonal than today, with sales diminishing inside Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars by the end of 1960 was more than usual, reflecting ambitious growth strategies, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered because of the North American dealers inside 1960 (and from the 12, 000 delivered to these people) 6, 000 might have to be taken back following a slump in American demand. (Borgward was not the sole European auto maker hit by way of North American slump in demand for imported cars during 1960. In the same 12 months two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
Right at the end of December 1960 Borgward approached your banker for a further a single million Marks of credit, the loan to be backed with a guarantee from the Bremen regional government which initially the Bremen senators decided provide. However, following the flood regarding critical press comment this senators withdrew their guarantee. They now required Carl Borgward to pledge the corporation 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 senate’s terms on 5 February 1961, thereby averting the bankruptcy in the business.The Bremen Senate likewise insisted on appointing its very own nominee as chairman of the company’s supervisory board. The man they select 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 on the breadth of Semler’s job. He had studied regulation at university and worked initially like a lawyer. The scion of a leading Hamburg political family, in 1945 he experienced himself been a founding person in the centre-right CSU party, and was a member of the Bundestag between 1950 and 1953. Despite his Hamburg beginning, Semler was by now based in Munich, with a network of contacts inside the Bavarian establishment that likely included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position in the Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators in order to chair the Borgward supervisory mother board would, in retrospect, contribute to the debate that followed the Borgward personal bankruptcy.
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On 28 July 1961 Semler, as Chairman of your supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided to get a court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while as well protecting the interests involving creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of his very own, never had any objective of allowing the Borgward auto-businesses to survive.
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