Borgward can be an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in your 1960s. The Borgward group developed four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's grand son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the firm's first new car throughout over 40 years, the BX7 at the particular 2015 International Motor Indicate.The origins of Bremen's most significant auto-business resume 1905 with the place in nearby Varel on the "Hansa Automobilgesellschaft" and the foundation in Bremen itself associated with "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 economy then confronting Germany, the business failed to prosper and with the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand this scope of his auto business, and he took control than it.
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The first "automobile" Carl Borgward created was the 1924 Blitzkarren (turbo cart), a sort of little three-wheeled van with two hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the nonetheless three wheeler timber presented synthetic leather bodied 5 or maybe 7 hp Goliath Leader. Borgward turned his focus on the other businesses along with led the development from 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 as well as the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from companies he had acquired over time to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business at a time of austerity and rationing. For many purposes the businesses would be run as a single entity, but in a business operated by way of man to whom delegation did not come naturally the expansion of legal entities nevertheless added unhelpful layers of complexity over the 1950s and encouraged a broadening with the range which in the end proved financially unsustainable with the sales volumes achievable. In 1949 company introduced 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 out in 1954. The Isabella would become Borgward's most favored 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 distinct 1500 cc sports racers from the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that was also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such because air suspension and programmed transmission, the company had trouble competing in the marketplace. While larger companies including Opel and VW took selling point of economies of scale along with kept their prices low to achieve market share, Borgward's cost structure was even above necessary for its size, as it basically handled as four tiny independent companies and never implemented such basic expense reduction strategies as shared development and parts sharing between your company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced as being a water-cooled boxer with entry wheel drive, but plagued with problems for example water leakage and gearbox glitches. Lloyd lost money on the car community . was more expensive as compared to its direct competitors.In 1961, the company was compelled into liquidation by loan companies. Carl Borgward died inside July 1963, still insisting the company were being technically solvent. This proved to be true within the sense that after your creditors were paid 100 %, there was still several. 5 million Marks remaining from the business.
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Reviews of difficulties at Borgward surfaced within an article that appeared within Germany's leading news mag, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly essential of Carl Borgward's small business approach, and included many of the arguments later advanced to explain or justify the corporation's demise. The widest range of cars from any producer in Germany, produced by three until finally recently operationally autonomous companies (Borgward, Goliath and Lloyd) was supporting a turnover involving only 650 million Signifies, placing the overall sales value in the combined Borgward auto companies only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation associated with new and modified types featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") provided rise to components which 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 made use of to the company.The December 1960 Spiegel article has not been the only serious general public criticism targeting Borgward right now: suddenly stridently negative (in case more succinct) comments also turned up in the influential mass-market Bild newspapers and in television stories. Critical media commentaries likewise appeared concerning large loans to the Borgward Group provided through the local Landesbank.It is apparent how the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses such as auto manufacturing use his or her expensive machines and tools most efficiently when they use them constantly on full capacity, but the car market in Europe from the 1950s/60s was more seasonal than today, with sales diminishing in Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars at the end of 1960 was higher than 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 through the North American dealers inside 1960 (and from the 12, 000 delivered to these people) 6, 000 might have for being taken back following a slump in North american demand. (Borgward was not the sole European auto maker hit by a North American slump sought after for imported cars while in 1960. In the same calendar year two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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At the conclusion of December 1960 Borgward approached the bank for a further 1 million Marks of credit history, the loan to be backed by way of guarantee from the Bremen regional government which initially the Bremen senators decided provide. However, following the flood regarding critical press comment this senators withdrew their assure. 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 particular senate’s terms on 4 February 1961, thereby averting the bankruptcy of the business.The Bremen Senate additionally insisted on appointing a nominee as chairman on the company’s supervisory board. The man they decided to go with was Johannes Semler whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice towards the breadth of Semler’s career. He had studied law at university and worked initially being 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 along with 1953. Despite his Hamburg beginnings, Semler was by now based in Munich, with a network of contacts from 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 inside Bizone. The appointment of Johannes Semler because the 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.
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Upon 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the business to continue to trade while while doing so protecting the interests associated with creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of his or her own, never had any purpose of allowing the Borgward auto-businesses to survive.
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