Borgward is usually an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in this 1960s. The Borgward group developed four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's grand son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the corporation's first new car within over 40 years, the BX7 at this 2015 International Motor Show.The origins of Bremen's most significant auto-business go back to 1905 with the business in nearby Varel in the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself regarding "Namag", maker of the Lloyd car. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial 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 the possibility greatly to expand your scope of his car business, and he took control from it.
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The primary "automobile" Carl Borgward intended was the 1924 Blitzkarren (lightning cart), a sort of small three-wheeled van with 3 hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget purchased 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 by now evolved into the nevertheless three wheeler timber presented synthetic leather bodied 5 or maybe 7 hp Goliath Leader. Borgward turned his focus on the other businesses in addition to led the development in 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 accompanied by the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from businesses he had acquired in the past to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business during a period of austerity and rationing. For many purposes the companies would be run as a single entity, but in a business operated with a man to whom delegation did not come naturally the expansion of legal entities however added unhelpful layers of complexity over the 1950s and encouraged a broadening of the range which in the end proved financially unsustainable using the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.On the list of top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's most popular model and remained in production for the life of the business. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers inside 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 the German market such seeing that air suspension and automatic transmission, the company had trouble competing in the market. While larger companies just like Opel and VW took benefit of economies of scale in addition to kept their prices low to achieve market share, Borgward's cost structure was even beyond necessary for its dimension, as it basically run as four tiny independent companies and don't implemented such basic cost reduction strategies as joint development and parts sharing between company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced being a water-cooled boxer with entrance wheel drive, but plagued with problems like water leakage and gearbox snags. Lloyd lost money on the car though it was more expensive than its direct competitors.In 1961, the company was pushed into liquidation by credit card companies. Carl Borgward died inside July 1963, still insisting the company ended up technically solvent. This proved to be true within the sense that after the particular creditors were paid 100 %, there was still 4. 5 million Marks left from the business.
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Studies of difficulties at Borgward surfaced within an article that appeared with Germany's leading news mag, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly crucial of Carl Borgward's business approach, and included many in the arguments later advanced to spellout or justify the firm's demise. The widest range associated with cars from any manufacturer in Germany, produced by three until recently operationally autonomous firms (Borgward, Goliath and Lloyd) had been supporting a turnover of only 650 million Scars, placing the overall sales value on the combined Borgward auto companies only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation regarding new and modified types featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") provided rise to components which all too often did not work, broke down or droped apart, resulting in massive costs for pre-delivery remediation and/or publish delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article hasn't been the only serious general public criticism targeting Borgward right now: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild newspaper and in television studies. Critical media commentaries additionally appeared concerning large loans on the Borgward Group provided from the local Landesbank.It is apparent which the business was confronting cash-flow difficulties right at 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 in full capacity, but the car market in Europe in the 1950s/60s was more temporary than today, with sales diminishing within Winter, then peaking in early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was greater than usual, reflecting ambitious growth ideas, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered from the North American dealers throughout 1960 (and from the 12, 000 delivered to these) 6, 000 might have to become taken back following a slump in American demand. (Borgward was not the only European auto maker hit by the North American slump in demand for imported cars in the course of 1960. In the same season two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
At the end of December 1960 Borgward approached the lender for a further 1 million Marks of credit score, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators decided to provide. However, following the flood regarding critical press comment this senators withdrew their ensure. 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 inside a still hostile media, Borgward agreed to your senate’s terms on four February 1961, thereby averting the bankruptcy on the business.The Bremen Senate additionally insisted on appointing its very own nominee as chairman from the company’s supervisory board. The man they select was Johannes Semler who reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice on the breadth of Semler’s occupation. He had studied legislations at university and worked initially like a lawyer. The scion of a number one Hamburg political family, in 1945 he got himself been a founding person in the centre-right CSU get together, and was a person in the Bundestag between 1950 as well as 1953. Despite his Hamburg origins, Semler was by on this occasion based in Munich, with a network of contacts in the Bavarian establishment that probably included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position inside Bizone. The appointment of Johannes Semler because the representative of the Bremen senators for you to chair the Borgward supervisory panel would, in retrospect, contribute to the conflict 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 your establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the organization to continue to trade while as well protecting the interests associated with creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of her own, never had any objective of allowing the Borgward auto-businesses for you to survive.
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