Borgward is surely an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in your 1960s. The Borgward group generated four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grand son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the businesses first new car with 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 establishment in nearby Varel of the "Hansa Automobilgesellschaft" and the muse in Bremen itself involving "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economy then confronting Germany, the business failed to prosper and by the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand the scope of his automobile business, and he took control of it.
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The very first "automobile" Carl Borgward made was the 1924 Blitzkarren (turbo cart), a sort of small 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 bought for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the still three wheeler timber framed synthetic leather bodied 5 or maybe 7 hp Goliath Founder. Borgward turned his attention to the other businesses and led the development from the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 as well as in 1939 the label was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from businesses he had acquired in the past to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business at any given time of austerity and rationing. For many purposes the businesses would be run like a single entity, but in a business operated by a man to whom delegation wouldn't come naturally the proliferation of legal entities nevertheless added unhelpful layers of complexity from the 1950s and encouraged a broadening of the range which in the long run proved financially unsustainable while using the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.On the list of top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella commenced in 1954. The Isabella would become Borgward's most favored model and remained in production for your life of the corporation. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that is also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such because air suspension and automatic transmission, the company had trouble competing in the market. While larger companies similar to Opel and VW took good thing about economies of scale in addition to kept their prices low to gain market share, Borgward's cost structure was even above necessary for its measurement, as it basically controlled as four tiny independent companies rather than implemented such basic price tag reduction strategies as combined development and parts sharing between company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced as a water-cooled boxer with the front wheel drive, but plagued with problems for example water leakage and gearbox snags. Lloyd lost money on the car although it was more expensive compared to its direct competitors.In 1961, the company was pushed into liquidation by credit card companies. Carl Borgward died in July 1963, still insisting the company were being technically solvent. This proved to be true in the sense that after this creditors were paid 100 %, there was still four. 5 million Marks remaining from the business.
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Accounts of difficulties at Borgward surfaced within the article that appeared inside Germany's leading news magazine, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly vital of Carl Borgward's company approach, and included many of the arguments later advanced to go into detail or justify the businesses demise. The widest range connected with cars from any producer in Germany, produced by three right up until recently operationally autonomous organizations (Borgward, Goliath and Lloyd) seemed to be supporting a turnover of only 650 million Represents, placing the overall sales value through the combined Borgward auto businesses only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation involving new and modified models featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") gave rise to components which all too often did not work, broke down or fell apart, resulting in massive bills for pre-delivery remediation and/or article 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 presently: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild classifieds and in television stories. Critical media commentaries likewise appeared concerning large loans towards the Borgward Group provided with the local Landesbank.It is apparent the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses including auto manufacturing use his or her expensive machines and tools most efficiently if they use them constantly in full capacity, but the car market in Europe inside 1950s/60s was more seasonal than today, with sales diminishing throughout Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars towards the end of 1960 was beyond usual, reflecting ambitious growth plans, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered with the North American dealers throughout 1960 (and with the 12, 000 delivered to these people) 6, 000 might have to be taken back following a slump in United states demand. (Borgward was not the one European auto maker hit by a North American slump widely used for imported cars through 1960. In the same calendar year two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
At the conclusion of December 1960 Borgward approached the financial institution for a further just one million Marks of credit score, the loan to be backed with a guarantee from the Bremen regional government which initially the Bremen senators consented to provide. However, following the flood of critical press comment the senators withdrew their promise. They now required Carl Borgward to pledge the corporation itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in the still hostile media, Borgward agreed to the particular senate’s terms on some February 1961, thereby averting the bankruptcy in the business.The Bremen Senate additionally insisted on appointing a nominee as chairman with the company’s supervisory board. The man they decided to go with was Johannes Semler who reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice for the breadth of Semler’s profession. He had studied legislations at university and worked initially as a lawyer. The scion of a respected Hamburg political family, in 1945 he had 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 roots, Semler was by this time around based in Munich, with a network of contacts in the Bavarian establishment that possibly included fellow CSU politician as well as 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 to be able to chair the Borgward supervisory panel would, in retrospect, contribute to the dispute that followed the Borgward bankruptcy.
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With 28 July 1961 Semler, as Chairman of the supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling this company to continue to trade while as well protecting the interests involving creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his or her own, never had any objective of allowing the Borgward auto-businesses for you to survive.
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