Borgward can be an automobile manufacturer originally created 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 given that been revived by Carl Borgward's grandson, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the businesses first new car with over 40 years, the BX7 at the 2015 International Motor Indicate.The origins of Bremen's most significant auto-business return to 1905 with the institution in nearby Varel on the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself of "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and through the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand the scope of his vehicle business, and he took control than it.
The initial "automobile" Carl Borgward made was the 1924 Blitzkarren (super cart), a sort of small three-wheeled van with only two hp (1. 5 kW), which was an enormous success already in the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the director 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 framed synthetic leather bodied 5 or perhaps 7 hp Goliath Pioneer. Borgward turned his focus on the other businesses and also led the development in the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 and also in 1939 the name was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from companies he had acquired over time to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business during a period of austerity and rationing. For many purposes the firms would be run being a single entity, but in a business operated with a man to whom delegation would not come naturally the growth of legal entities nonetheless added unhelpful layers of complexity throughout the 1950s and encouraged a broadening of the range which ultimately proved financially unsustainable while using sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.One of several top engineers at Borgward via 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 that life of the organization. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (which was also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such because air suspension and computerized transmission, the company had trouble competing out there. While larger companies similar to Opel and VW took benefit of economies of scale along with kept their prices low to get market share, Borgward's cost structure was even above necessary for its size, as it basically handled as four tiny independent companies and do not implemented such basic charge reduction strategies as mutual development and parts sharing between your company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced to be a water-cooled boxer with top wheel drive, but plagued with problems for example water leakage and gearbox mistakes. Lloyd lost money on the car community . was more expensive as compared to its direct competitors.In 1961, the company was required into liquidation by creditors. Carl Borgward died with July 1963, still insisting the company have been technically solvent. This proved to be true inside sense that after the actual creditors were paid completely, there was still some. 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 journal, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly critical of Carl Borgward's company approach, and included many on the arguments later advanced to spellout or justify the corporation's demise. The widest range associated with cars from any producer in Germany, produced by three till recently operationally autonomous organizations (Borgward, Goliath and Lloyd) ended up being supporting a turnover connected with only 650 million Grades, placing the overall sales value through the combined Borgward auto businesses only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation of new and modified versions featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") offered rise to components which excessively did not work, broke down or dropped 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 wasn't the only serious open public criticism targeting Borgward right now: suddenly stridently negative (in case more succinct) comments also resulted in in the influential mass-market Bild newspaper and in television stories. Critical media commentaries also appeared concerning large loans to the Borgward Group provided through the local Landesbank.It is apparent that the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses like auto manufacturing use their own expensive machines and tools most efficiently should they use them constantly from full capacity, but the car market in Europe inside 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 higher than usual, reflecting ambitious growth options, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered from the North American dealers inside 1960 (and in the 12, 000 delivered to these people) 6, 000 might have to become taken back following a slump in American demand. (Borgward was not really the only European auto maker hit by way of North American slump successful for imported cars during 1960. In the same calendar year two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
Right at the end of December 1960 Borgward approached the bank for a further 1 million Marks of credit ratings, the loan to be backed by way of guarantee from the Bremen regional government which initially the Bremen senators consented to provide. However, following the flood associated with critical press comment the particular 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 inside a still hostile media, Borgward agreed to the senate’s terms on 5 February 1961, thereby averting the bankruptcy from the business.The Bremen Senate furthermore insisted on appointing a nominee as chairman from the company’s supervisory board. The man they selected was Johannes Semler with whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice on the breadth of Semler’s occupation. He had studied rules at university and worked initially as being a lawyer. The scion of a respected Hamburg political family, in 1945 he had 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 beginning, Semler was by this time around based in Munich, with a network of contacts in the Bavarian establishment that likely included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position in the Bizone. The appointment of Johannes Semler because representative of the Bremen senators in order to chair the Borgward supervisory aboard would, in retrospect, contribute to the debate that followed the Borgward chapter 7.
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Upon 28 July 1961 Semler, as Chairman of your supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while at the same time protecting the interests associated with creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of their own, never had any goal of allowing the Borgward auto-businesses to survive.
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