Borgward is usually an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in the actual 1960s. The Borgward group produced four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grand son, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the corporation's first new car within over 40 years, the BX7 at your 2015 International Motor Indicate.The origins of Bremen's most significant auto-business go back to 1905 with the institution in nearby Varel in the "Hansa Automobilgesellschaft" and the foundation in Bremen itself regarding "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and through the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the particular scope of his automobile business, and he took control than it.
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The initial "automobile" Carl Borgward made was the 1924 Blitzkarren (turbo cart), a sort of little three-wheeled van with two hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the nonetheless three wheeler timber presented synthetic leather bodied 5 or even 7 hp Goliath Leading. Borgward turned his focus on the other businesses and also led the development with the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 and in 1939 the brand was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from corporations he had acquired over the years to found three individual 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 firms would be run being a single entity, but in a business operated by way of a man to whom delegation failed to come naturally the spreading of legal entities on the other hand added unhelpful layers of complexity through the 1950s and encouraged a broadening with the range which in the end proved financially unsustainable while using sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of many top engineers at Borgward via 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 the life of the company. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these learning to be a successful Formula Two power unit (that has been also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such because air suspension and automatic transmission, the company had trouble competing out there. While larger companies like Opel and VW took benefit of economies of scale along with kept their prices low to get market share, Borgward's cost structure was even more than necessary for its dimensions, as it basically handled as four tiny independent companies and do not implemented such basic cost reduction strategies as articulation development and parts sharing between your company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced as being a water-cooled boxer with front wheel drive, but plagued with problems like water leakage and gearbox mistakes. Lloyd lost money on the car just about the most was more expensive in comparison with its direct competitors.In 1961, the company was compelled into liquidation by creditors. Carl Borgward died throughout July 1963, still insisting the company have been technically solvent. This proved to be true within the sense that after the creditors were paid completely, there was still some. 5 million Marks left from the business.
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Stories of difficulties at Borgward surfaced within the article that appeared in Germany's leading news magazine, “Der Spiegel” on 14 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 entry cover. It was strongly critical of Carl Borgward's organization approach, and included many from the arguments later advanced to go into detail or justify the businesses demise. The widest range connected with cars from any manufacturer in Germany, produced by three until finally recently operationally autonomous corporations (Borgward, Goliath and Lloyd) had been supporting a turnover of only 650 million Represents, placing the overall sales value from the combined Borgward auto firms only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation connected with new and modified models featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") provided rise to components which many times did not work, broke down or droped apart, resulting in massive costs for pre-delivery remediation and/or article delivery warranty work that found their way back to the company.The December 1960 Spiegel article hasn't been the only serious open criticism targeting Borgward presently: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild classifieds and in television reviews. Critical media commentaries additionally appeared concerning large loans towards Borgward Group provided with the local Landesbank.It is apparent that the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses like auto manufacturing use their own expensive machines and tools most efficiently should they use them constantly on full capacity, but the car market in Europe inside 1950s/60s was more seasonal 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 more than usual, reflecting ambitious growth ideas, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered through the North American dealers throughout 1960 (and of the 12, 000 delivered to these individuals) 6, 000 might have being taken back following a slump in Us demand. (Borgward was not the only European auto maker hit by way of North American slump popular for imported cars in the course of 1960. In the same yr two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached the lending company for a further one particular million Marks of credit, the loan to be backed by a guarantee from the Bremen regional government which initially the Bremen senators decided provide. However, following the flood associated with critical press comment the actual senators withdrew their assurance. They now required Carl Borgward to pledge the business 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 the particular senate’s terms on 4 February 1961, thereby averting the bankruptcy on the business.The Bremen Senate in addition insisted on appointing its own nominee as chairman with the company’s supervisory board. The man they chose was Johannes Semler with whom reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice towards the breadth of Semler’s profession. He had studied regulation at university and worked initially like a lawyer. The scion of a top Hamburg political family, in 1945 he had himself been a founding person in the centre-right CSU party, and was a member of the Bundestag between 1950 and also 1953. Despite his Hamburg roots, Semler was by this time around based in Munich, with a network of contacts inside Bavarian establishment that likely included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position from the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators to help chair the Borgward supervisory mother board would, in retrospect, contribute to the controversy that followed the Borgward bankruptcy.
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About 28 July 1961 Semler, as Chairman of your supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings to the establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the organization to continue to trade while concurrently 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 with the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of his or her own, never had any intent of allowing the Borgward auto-businesses in order to survive.
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