Borgward is usually an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in your 1960s. The Borgward group generated four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the company's first new car inside over 40 years, the BX7 at the actual 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business resume 1905 with the institution in nearby Varel in the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself of "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and by the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand your scope of his car business, and he took control from it.
Description Borgward Isabella TS 1961.jpg
The primary "automobile" Carl Borgward created was the 1924 Blitzkarren (super cart), a sort of very small three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success in the market 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 representative of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the nevertheless three wheeler timber framed synthetic leather bodied 5 or 7 hp Goliath Founder. Borgward turned his focus on the other businesses as well as led the development of the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 as well as in 1939 the label was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from businesses he had acquired in recent times to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business at the same time of austerity and rationing. For many purposes the lenders would be run to be a single entity, but in a business operated by the man to whom delegation wouldn't come naturally the growth of legal entities nonetheless added unhelpful layers of complexity from the 1950s and encouraged a broadening with the range which in the end proved financially unsustainable with the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.One of the top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's most in-demand model and remained in production for that life of the firm. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that was also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such since air suspension and programmed transmission, the company had trouble competing in the marketplace. While larger companies including Opel and VW took benefit from economies of scale along with kept their prices low to find market share, Borgward's cost structure was even more than necessary for its size, as it basically operated as four tiny independent companies and do not implemented such basic expense reduction strategies as shared development and parts sharing relating to the company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced being a water-cooled boxer with top 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 when compared with its direct competitors.In 1961, the company was pressured into liquidation by collectors. Carl Borgward died within July 1963, still insisting the company were being technically solvent. This proved to be true from the sense that after the particular creditors were paid fully, there was still four. 5 million Marks left from the business.
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Studies of difficulties at Borgward surfaced in an article that appeared inside Germany's leading news magazine, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly essential of Carl Borgward's business approach, and included many on the arguments later advanced to spell out or justify the firm's demise. The widest range of cars from any producer in Germany, produced by three till recently operationally autonomous firms (Borgward, Goliath and Lloyd) seemed to be supporting a turnover regarding only 650 million Represents, placing the overall sales value through the combined Borgward auto corporations only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation of new and modified models featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") provided rise to components which all too often did not work, broke down or fell into apart, resulting in massive payments 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 public criticism targeting Borgward currently: suddenly stridently negative (in the event that more succinct) comments also resulted in in the influential mass-market Bild paper and in television studies. Critical media commentaries in addition appeared concerning large loans to the Borgward Group provided with the local Landesbank.It is apparent how 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 should they use them constantly at full capacity, but the car market in Europe within the 1950s/60s was more seasons than today, with sales diminishing in 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 programs, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered by the North American dealers inside 1960 (and in the 12, 000 delivered to these) 6, 000 might have for being taken back following a slump in North american demand. (Borgward was not the one European auto maker hit with a North American slump successful for imported cars during 1960. In the same 12 months two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached the lender for a further one particular million Marks of credit ratings, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators opted for provide. However, following the flood associated with critical press comment this senators withdrew their assurance. They now required Carl Borgward to pledge the business itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported in 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 its own nominee as chairman from the company’s supervisory board. The man they decided to go with was Johannes Semler whom reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice for the breadth of Semler’s profession. He had studied legislation at university and worked initially to be a lawyer. The scion of a number one Hamburg political family, in 1945 he had himself been a founding person in the centre-right CSU celebration, and was a member of the Bundestag between 1950 and also 1953. Despite his Hamburg roots, Semler was by these times based in Munich, with a network of contacts inside the Bavarian establishment that almost certainly included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position from the Bizone. The appointment of Johannes Semler because representative of the Bremen senators for you to chair the Borgward supervisory board would, in retrospect, contribute to the hot debate 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 a court sanctioned scheme of arrangement enabling the company to continue to trade while simultaneously protecting the interests of creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of her own, never had any intent of allowing the Borgward auto-businesses to survive.
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