Borgward is surely an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the 1960s. The Borgward group made four brands of autos: 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 business's first new car with over 40 years, the BX7 at the 2015 International Motor Indicate.The origins of Bremen's most significant auto-business get back to 1905 with the organization in nearby Varel from the "Hansa Automobilgesellschaft" and the foundation in Bremen itself of "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and with the late 1920s faced individual 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 actual scope of his automobile business, and he took control from it.
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The very first "automobile" Carl Borgward designed 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 got it for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 or maybe 7 hp Goliath Leading. Borgward turned his care about the other businesses and led the development with the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and in 1939 the label was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from businesses he had acquired in the past to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business at the same time of austerity and rationing. For many purposes nokia's would be run like a single entity, but in a business operated by way of man to whom delegation did not come naturally the proliferation of legal entities however added unhelpful layers of complexity from the 1950s and encouraged a broadening from the range which eventually proved financially unsustainable with all the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.On the list of top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most popular model and remained in production for your life of the business. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these learning to be a successful Formula Two power unit (which has been also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such while air suspension and computerized transmission, the company had trouble competing in the marketplace. While larger companies such as Opel and VW took advantage of economies of scale and also kept their prices low to realize market share, Borgward's cost structure was even beyond necessary for its size, as it basically controlled as four tiny independent companies and never implemented such basic cost reduction strategies as combined 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 entry wheel drive, but plagued with problems for example water leakage and gearbox secrets. Lloyd lost money on the car just about the most was more expensive when compared with its direct competitors.In 1961, the company was pushed into liquidation by creditors. Carl Borgward died in July 1963, still insisting the company ended up technically solvent. This proved to be true inside sense that after the particular creditors were paid entirely, there was still four. 5 million Marks remaining from the business.
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Reviews of difficulties at Borgward surfaced in the article that appeared inside Germany's leading news magazine, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s entry 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 connected with cars from any company in Germany, produced by three until recently operationally autonomous businesses (Borgward, Goliath and Lloyd) ended up being supporting a turnover regarding only 650 million Represents, placing the overall sales value on the combined Borgward auto firms only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation associated with new and modified types featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") provided rise to components which many times did not work, broke down or fell apart, resulting in massive costs for pre-delivery remediation and/or post delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article hasn't been the only serious open criticism targeting Borgward presently: 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 for 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 for instance auto manufacturing use the expensive machines and tools most efficiently whenever they use them constantly from full capacity, but the car market in Europe inside 1950s/60s was more periodic than today, with sales diminishing within 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 plans, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered because of the North American dealers in 1960 (and on the 12, 000 delivered to all of them) 6, 000 might have to become taken back following a slump in United states demand. (Borgward was not the sole European auto maker hit by the North American slump widely used for imported cars in the course of 1960. In the same year two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached your banker for a further 1 million Marks of credit score, the loan to be backed by a guarantee from the Bremen regional government which initially the Bremen senators decided to provide. However, following the flood of critical press comment this senators withdrew their assurance. They now required Carl Borgward to pledge the corporation itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported inside a still hostile media, Borgward agreed to your senate’s terms on four February 1961, thereby averting the bankruptcy in the business.The Bremen Senate furthermore insisted on appointing its nominee as chairman in the company’s supervisory board. The man they decided was Johannes Semler which reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice to the breadth of Semler’s occupation. He had studied legislations at university and worked initially as a lawyer. The scion of a number one Hamburg political family, in 1945 he got himself been a founding member of the centre-right CSU celebration, and was a person in the Bundestag between 1950 along with 1953. Despite his Hamburg beginnings, Semler was by on this occasion based in Munich, with a network of contacts inside Bavarian establishment that likely included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position within the Bizone. The appointment of Johannes Semler because representative of the Bremen senators to chair the Borgward supervisory table would, in retrospect, contribute to the dispute that followed the Borgward bankruptcy.
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In 28 July 1961 Semler, as Chairman of the supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings for the 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 of creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November by 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 to be able to survive.
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