Borgward is surely an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in your 1960s. The Borgward group made four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's grandson, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the firm's first new car in over 40 years, the BX7 at this 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business return to 1905 with the institution in nearby Varel with the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself regarding "Namag", maker of the Lloyd automobile. 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 on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand this scope of his auto business, and he took control than it.
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The primary "automobile" Carl Borgward created was the 1924 Blitzkarren (turbo cart), a sort of small three-wheeled van with only two hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget purchased for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the however three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Pioneer. Borgward turned his care about the other businesses in addition to led the development on the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 and also in 1939 the label was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from businesses he had acquired through the years to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business each time of austerity and rationing. For many purposes the firms would be run as being a single entity, but in a business operated by a man to whom delegation would not come naturally the growth of legal entities however added unhelpful layers of complexity throughout the 1950s and encouraged a broadening of the range which ultimately proved financially unsustainable while 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 commenced in 1954. The Isabella would become Borgward's most popular model and remained in production to the life of the business. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that is also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such while air suspension and intelligent transmission, the company had trouble competing in the market. While larger companies similar to Opel and VW took benefit from economies of scale and also kept their prices low to get market share, Borgward's cost structure was even higher than necessary for its dimensions, as it basically run as four tiny independent companies and not implemented such basic cost reduction strategies as articulation development and parts sharing between your company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced being a water-cooled boxer with front wheel drive, but plagued with problems such as 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 compelled into liquidation by collectors. Carl Borgward died with July 1963, still insisting the company was technically solvent. This proved to be true in the sense that after the creditors were paid completely, there was still some. 5 million Marks left over from the business.
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Reviews of difficulties at Borgward surfaced within an article that appeared inside Germany's leading news journal, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly essential of Carl Borgward's company approach, and included many with the arguments later advanced to explain or justify the company's demise. The widest range regarding cars from any company in Germany, produced by three until eventually recently operationally autonomous corporations (Borgward, Goliath and Lloyd) seemed to be supporting a turnover connected with only 650 million Grades, placing the overall sales value on the combined Borgward auto companies only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation of new and modified models featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") offered rise to components which excessively did not work, broke down or chop down apart, resulting in massive charges for pre-delivery remediation and/or publish delivery warranty work that found their made use of to the company.The December 1960 Spiegel article was not the only serious community criticism targeting Borgward at the moment: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild paper and in television stories. Critical media commentaries likewise appeared concerning large loans towards the Borgward Group provided by the local Landesbank.It is apparent how the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses for instance auto manufacturing use the expensive machines and tools most efficiently whenever they use them constantly with full capacity, but the car market in Europe from the 1950s/60s was more temporary than today, with sales diminishing inside Winter, then peaking in early summer months: Borgward’s inventory of unsold cars at the end of 1960 was higher than usual, reflecting ambitious growth strategies, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered through the North American dealers with 1960 (and with the 12, 000 delivered to these individuals) 6, 000 might have to become taken back following a slump in North american demand. (Borgward was not really the only European auto maker hit by the North American slump widely used for imported cars in the course of 1960. In the same calendar year 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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At the end of December 1960 Borgward approached the lending company for a further one million Marks of credit, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators decided provide. However, following the flood involving critical press comment the senators withdrew their assurance. 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 the actual senate’s terms on several February 1961, thereby averting the bankruptcy from the business.The Bremen Senate furthermore insisted on appointing a unique nominee as chairman of the company’s supervisory board. The man they decided was Johannes Semler which reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice to the breadth of Semler’s vocation. He had studied rules at university and worked initially being a lawyer. The scion of a respected Hamburg political family, in 1945 he acquired himself been a founding person in the centre-right CSU get together, and was a member of the Bundestag between 1950 and also 1953. Despite his Hamburg sources, Semler was by now based in Munich, with a network of contacts inside the Bavarian establishment that probably 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 because representative of the Bremen senators to chair the Borgward supervisory mother board would, in retrospect, contribute to the dispute that followed the Borgward individual bankruptcy.
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On 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors on 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 while doing so protecting the interests involving creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of his own, never had any intention of allowing the Borgward auto-businesses for you to survive.
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