Borgward can be an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the particular 1960s. The Borgward group developed four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's son, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the company's first new car inside over 40 years, the BX7 at this 2015 International Motor Show.The origins of Bremen's most significant auto-business get back to 1905 with the establishment in nearby Varel in the "Hansa Automobilgesellschaft" and the foundation in Bremen itself associated with "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to make 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 from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand this scope of his automobile business, and he took control than it.
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The first "automobile" Carl Borgward developed was the 1924 Blitzkarren (super cart), a sort of small three-wheeled van with two hp (1. 5 kW), which was an enormous success already in the market gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the still three wheeler timber framed synthetic leather bodied 5 or perhaps 7 hp Goliath Founder. Borgward turned his focus on the other businesses and led the development from the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 as well as in 1939 the brand was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from businesses he had acquired through the years to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business at any given time of austerity and rationing. For many purposes the companies would be run being a single entity, but in a business operated by a man to whom delegation wouldn't come naturally the expansion of legal entities nevertheless added unhelpful layers of complexity over the 1950s and encouraged a broadening on the range which ultimately proved financially unsustainable with all the sales volumes achievable. In 1949 company presented 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 began in 1954. The Isabella would become Borgward's most favored model and remained in production for your life of the firm. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line 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 because air suspension and programmed transmission, the company had trouble competing in the marketplace. While larger companies similar to Opel and VW took benefit from economies of scale as well as kept their prices low to realize market share, Borgward's cost structure was even greater than necessary for its size, as it basically managed as four tiny independent companies and do not implemented such basic charge reduction strategies as articulation development and parts sharing between your company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced as a water-cooled boxer with entrance wheel drive, but plagued with problems for example water leakage and gearbox errors. Lloyd lost money on the car just about the most was more expensive than its direct competitors.In 1961, the company was forced into liquidation by credit card companies. Carl Borgward died inside July 1963, still insisting the company was technically solvent. This proved to be true within the sense that after the particular creditors were paid 100 %, there was still 5. 5 million Marks left over from the business.
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Reports of difficulties at Borgward surfaced in a article that appeared inside Germany's leading news journal, “Der Spiegel” on 15 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 front cover. It was strongly critical of Carl Borgward's organization approach, and included many of the arguments later advanced to go into detail or justify the company's demise. The widest range connected with cars from any producer in Germany, produced by three till recently operationally autonomous organizations (Borgward, Goliath and Lloyd) ended up being supporting a turnover regarding only 650 million Signifies, placing the overall sales value from your combined Borgward auto organizations only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation of new and modified types featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") presented 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 submit delivery warranty work that found their long ago to the company.The December 1960 Spiegel article wasn't the only serious open public criticism targeting Borgward currently: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild newspapers and in television reports. Critical media commentaries likewise appeared concerning large loans on the Borgward Group provided through the local Landesbank.It is apparent the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses for example auto manufacturing use his or her expensive machines and tools most efficiently whenever they use them constantly from full capacity, but the car market in Europe inside 1950s/60s was more temporary than today, with sales diminishing throughout Winter, then peaking in early summer months: Borgward’s inventory of unsold cars by the end of 1960 was above usual, reflecting ambitious growth ideas, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered because of the North American dealers throughout 1960 (and from the 12, 000 delivered to all of them) 6, 000 might have for being taken back following a slump in American demand. (Borgward was not the only real European auto maker hit with a North American slump widely used for imported cars throughout 1960. In the same 12 months two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached the financial institution for a further one particular million Marks of credit rating, the loan to be backed by way of a guarantee from the Bremen regional government which initially the Bremen senators consented to provide. However, following the flood associated with critical press comment the particular senators withdrew their promise. 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 a still hostile media, Borgward agreed to the particular senate’s terms on several February 1961, thereby averting the bankruptcy from the business.The Bremen Senate additionally insisted on appointing its very own nominee as chairman in the company’s supervisory board. The man they chose was Johannes Semler to whom reports generally describe being 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 law at university and worked initially to be a lawyer. The scion of a number one Hamburg political family, in 1945 he received himself been a founding person in the centre-right CSU bash, and was a member of the Bundestag between 1950 in addition to 1953. Despite his Hamburg sources, Semler was by this time based in Munich, with a network of contacts inside the Bavarian establishment that likely included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position within the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators for you to chair the Borgward supervisory board would, in retrospect, contribute to the controversy that followed the Borgward bankruptcy.
About 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 for any court sanctioned scheme of arrangement enabling the business to continue to trade while while doing so protecting the interests involving creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his very own, never had any purpose of allowing the Borgward auto-businesses to be able to survive.
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