Borgward can be an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in your 1960s. The Borgward group developed four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's son, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from China investment, and unveiled the businesses first new car throughout over 40 years, the BX7 at this 2015 International Motor Display.The origins of Bremen's most significant auto-business get back on 1905 with the organization in nearby Varel of the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself connected with "Namag", maker of the Lloyd car. These two businesses merged in 1914 to create 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 chapter 7. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand the actual scope of his automobile business, and he took control from it.
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The very first "automobile" Carl Borgward developed was the 1924 Blitzkarren (super cart), a sort of tiny three-wheeled van with 3 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 had the oppertunity to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the however three wheeler timber framed synthetic leather bodied 5 or even 7 hp Goliath Pioneer. Borgward turned his focus on the other businesses and also led the development of the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 along with in 1939 the title 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 companies he had acquired in the past to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business at any given time of austerity and rationing. For many purposes the companies would be run as being a single entity, but in a business operated with a man to whom delegation would not come naturally the growth of legal entities nevertheless added unhelpful layers of complexity from the 1950s and encouraged a broadening in the range which in the end proved financially unsustainable with the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.Among the top engineers at Borgward coming from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's most popular model and remained in production for your life of the company. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that is also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such seeing that air suspension and intelligent transmission, the company had trouble competing in the marketplace. While larger companies like Opel and VW took good thing about economies of scale in addition to kept their prices low to get 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 price reduction strategies as shared development and parts sharing between the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced to be a water-cooled boxer with entrance wheel drive, but plagued with problems for instance water leakage and gearbox errors. Lloyd lost money on the car even though it was more expensive as compared to its direct competitors.In 1961, the company was required into liquidation by loan companies. Carl Borgward died inside July 1963, still insisting the company had been technically solvent. This proved to be true in the sense that after this creditors were paid in full, there was still several. 5 million Marks remaining from the business.
Reports of difficulties at Borgward surfaced in a article that appeared throughout Germany's leading news mag, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly crucial of Carl Borgward's company approach, and included many on the arguments later advanced to explain or justify the businesses demise. The widest range involving cars from any maker in Germany, produced by three till recently operationally autonomous companies (Borgward, Goliath and Lloyd) ended up being supporting a turnover involving only 650 million Scars, 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 associated with new and modified versions featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") presented rise to components which too often did not work, broke down or fell into apart, resulting in massive payments for pre-delivery remediation and/or publish delivery warranty work that found their in the past to the company.The December 1960 Spiegel article wasn't the only serious general public criticism targeting Borgward right now: suddenly stridently negative (when more succinct) comments also turned up in the influential mass-market Bild paper and in television reports. Critical media commentaries in addition appeared concerning large loans on the Borgward Group provided by the local Landesbank.It is apparent how the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses including auto manufacturing use their particular expensive machines and tools most efficiently as long as they use them constantly on full capacity, but the car market in Europe from the 1950s/60s was more periodic than today, with sales diminishing in Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars 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 within 1960 (and from the 12, 000 delivered to these people) 6, 000 might have for being taken back following a slump in American demand. (Borgward was not the only European auto maker hit by way of a North American slump widely used 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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At the conclusion of December 1960 Borgward approached your banker for a further one million Marks of credit ratings, the loan to be backed by way of a guarantee from the Bremen local government which initially the Bremen senators decided provide. However, following the flood involving critical press comment the senators withdrew their guarantee. They now required Carl Borgward to pledge the company 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 senate’s terms on 5 February 1961, thereby averting the bankruptcy in the business.The Bremen Senate likewise insisted on appointing its very own nominee as chairman from the company’s supervisory board. The man they selected was Johannes Semler which reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice on the breadth of Semler’s career. He had studied legislation at university and worked initially to be a lawyer. The scion of a top Hamburg political family, in 1945 he received himself been a founding member of the centre-right CSU party, and was a person in the Bundestag between 1950 in addition to 1953. Despite his Hamburg beginnings, Semler was by this time around based in Munich, with a network of contacts in the Bavarian establishment that most likely included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position inside the Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators to be able to chair the Borgward supervisory mother board would, in retrospect, contribute to the hot debate that followed the Borgward personal bankruptcy.
On 28 July 1961 Semler, as Chairman of your supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided to get a court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while at the same time protecting the interests connected with creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of his very own, never had any objective of allowing the Borgward auto-businesses in order to survive.
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