Borgward is surely an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in this 1960s. The Borgward group created four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grandson, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the firm's first new car throughout over 40 years, the BX7 at this 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business go back to 1905 with the business in nearby Varel with the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself of "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and with the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand the scope of his vehicle business, and he took control of the usb ports.
The first "automobile" Carl Borgward intended was the 1924 Blitzkarren (turbo cart), a sort of very small three-wheeled van with 2 hp (1. 5 kW), which was an enormous success on the market gap it filled. Traders with a small budget purchased for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the nevertheless three wheeler timber framed synthetic leather bodied 5 or maybe 7 hp Goliath Founder. Borgward turned his awareness of the other businesses and also led the development from the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 and in 1939 the identify was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from businesses he had acquired in recent times to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business each time of austerity and rationing. For many purposes the firms would be run as a single entity, but in a business operated by the man to whom delegation did not come naturally the spreading of legal entities on the other hand added unhelpful layers of complexity from the 1950s and encouraged a broadening of the range which in the end proved financially unsustainable using the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.On the list of top engineers at Borgward coming from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most popular model and remained in production for your life of the corporation. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (that was also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such while air suspension and automated transmission, the company had trouble competing in the marketplace. While larger companies just like Opel and VW took selling point of economies of scale in addition to kept their prices low to find market share, Borgward's cost structure was even more than necessary for its dimensions, as it basically run 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 likewise. The Lloyd Arabella was technically advanced like a water-cooled boxer with the front wheel drive, but plagued with problems such as water leakage and gearbox secrets. Lloyd lost money on the car even though it was more expensive in comparison with its direct competitors.In 1961, the company was forced into liquidation by credit card companies. Carl Borgward died with July 1963, still insisting the company ended up technically solvent. This proved to be true inside sense that after this creditors were paid 100 %, there was still some. 5 million Marks remaining from the business.
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Stories of difficulties at Borgward surfaced in a article that appeared with Germany's leading news newspaper, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly essential of Carl Borgward's company approach, and included many with the arguments later advanced to go into detail or justify the businesses demise. The widest range involving cars from any supplier in Germany, produced by three until recently operationally autonomous businesses (Borgward, Goliath and Lloyd) seemed to be supporting a turnover connected with only 650 million Represents, placing the overall sales value through the combined Borgward auto corporations only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation associated with new and modified products featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") offered rise to components which too much did not work, broke down or fell into apart, resulting in massive costs for pre-delivery remediation and/or post delivery warranty work that found their in the past to the company.The December 1960 Spiegel article was not the only serious open criticism targeting Borgward presently: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild classifieds and in television accounts. Critical media commentaries likewise appeared concerning large loans towards the Borgward Group provided with the local Landesbank.It is apparent which the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses such as auto manufacturing use their own expensive machines and tools most efficiently when they use them constantly from full capacity, but the car market in Europe in the 1950s/60s was more in season than today, with sales diminishing in Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars at the end of 1960 was higher than usual, reflecting ambitious growth options, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered by the North American dealers in 1960 (and with the 12, 000 delivered to these people) 6, 000 might have to be taken back following a slump in North american demand. (Borgward was not really the only European auto maker hit by the North American slump popular for imported cars during 1960. In the same season two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in Big apple were overcrowded with unsold Dauphines.
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At the conclusion of December 1960 Borgward approached the lending company for a further a single million Marks of credit score, the loan to be backed by way of guarantee from the Bremen regional government which initially the Bremen senators opted for provide. However, following the flood of critical press comment your senators withdrew their promise. They now required Carl Borgward to pledge the company itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in the still hostile media, Borgward agreed to this senate’s terms on 4 February 1961, thereby averting the bankruptcy in the business.The Bremen Senate in addition insisted on appointing its very own nominee as chairman of the company’s supervisory board. The man they decided was Johannes Semler whom reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice towards breadth of Semler’s career. He had studied legislation at university and worked initially like a lawyer. The scion of a top Hamburg political family, in 1945 he received himself been a founding person in the centre-right CSU gathering, and was a person in the Bundestag between 1950 in addition to 1953. Despite his Hamburg beginning, Semler was by these times based in Munich, with a network of contacts in the Bavarian establishment that most likely 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 the Bizone. The appointment of Johannes Semler because representative of the Bremen senators to be able to chair the Borgward supervisory mother board would, in retrospect, contribute to the debate that followed the Borgward individual bankruptcy.
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In 28 July 1961 Semler, as Chairman of your supervisory board joined the directors from the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the business to continue to trade while at the same time protecting the interests associated with creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of their own, never had any objective of allowing the Borgward auto-businesses to survive.
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