Borgward is surely an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in this 1960s. The Borgward group created four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grand son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the company's first new car with over 40 years, the BX7 at the particular 2015 International Motor Indicate.The origins of Bremen's most significant auto-business get back on 1905 with the place in nearby Varel from the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself regarding "Namag", maker of the Lloyd car or truck. 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 by the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the particular scope of his auto business, and he took control than it.
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The 1st "automobile" Carl Borgward created was the 1924 Blitzkarren (super cart), a sort of teeny three-wheeled van with 2 hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget purchased for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the nevertheless three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Leading. Borgward turned his focus on the other businesses and also led the development in the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and also in 1939 the label was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from companies he had acquired through the years to found three independent 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 lenders would be run to be a single entity, but in a business operated by way of a man to whom delegation failed to come naturally the spreading of legal entities however added unhelpful layers of complexity from the 1950s and encouraged a broadening with the range which in the long run proved financially unsustainable with the sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.One of several top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most widely used model and remained in production for your life of the firm. In 1960 the Borgward P100 had been 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 transforming into a successful Formula Two power unit (that is also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such while air suspension and computerized transmission, the company had trouble competing available. While larger companies including Opel and VW took benefit from economies of scale and also kept their prices low to gain market share, Borgward's cost structure was even more than necessary for its dimension, as it basically managed as four tiny independent companies and don't implemented such basic price reduction strategies as joint development and parts sharing between your company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced as a water-cooled boxer with entrance wheel drive, but plagued with problems like water leakage and gearbox snags. Lloyd lost money on the car though it was more expensive when compared with its direct competitors.In 1961, the company was compelled into liquidation by collectors. Carl Borgward died in July 1963, still insisting the company ended up technically solvent. This proved to be true within the sense that after the actual creditors were paid entirely, there was still 4. 5 million Marks left from the business.
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Reports of difficulties at Borgward surfaced within an article that appeared inside Germany's leading news mag, “Der Spiegel” on fourteen 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 front cover. It was strongly critical of Carl Borgward's organization approach, and included many from the arguments later advanced to describe or justify the firm's demise. The widest range regarding cars from any supplier in Germany, produced by three until finally recently operationally autonomous organizations (Borgward, Goliath and Lloyd) has been supporting a turnover involving only 650 million Represents, placing the overall sales value in 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 of new and modified designs featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") presented rise to components which excessively did not work, broke down or dropped apart, resulting in massive costs for pre-delivery remediation and/or write-up delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article has not been the only serious community criticism targeting Borgward presently: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild magazine and in television stories. Critical media commentaries in addition appeared concerning large loans towards Borgward Group provided by the local Landesbank.It is apparent the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses for instance auto manufacturing use their particular expensive machines and tools most efficiently when they use them constantly at full capacity, but the car market in Europe within the 1950s/60s was more temporary than today, with sales diminishing inside Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars at the end of 1960 was greater than usual, reflecting ambitious growth strategies, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered with the North American dealers within 1960 (and on 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 only European auto maker hit by the North American slump widely used for imported cars during 1960. In the same 12 months two ships carrying Renault Dauphines were turned in 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 a single 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 agreed to provide. However, following the flood involving critical press comment this senators withdrew their assure. They now required Carl Borgward to pledge this company itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported in a very still hostile media, Borgward agreed to the particular senate’s terms on 4 February 1961, thereby averting the bankruptcy with the business.The Bremen Senate likewise insisted on appointing its very own nominee as chairman in the company’s supervisory board. The man they select was Johannes Semler who 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 vocation. He had studied regulation at university and worked initially to be a lawyer. The scion of a number one Hamburg political family, in 1945 he experienced himself been a founding member of the centre-right CSU gathering, and was a member of the Bundestag between 1950 in addition to 1953. Despite his Hamburg sources, Semler was by now based in Munich, with a network of contacts in the Bavarian establishment that almost certainly included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position from the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators for you to chair the Borgward supervisory aboard would, in retrospect, contribute to the hot debate that followed the Borgward chapter 7.
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With 28 July 1961 Semler, as Chairman of the supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided to get a court sanctioned scheme of arrangement enabling the organization to continue to trade while concurrently protecting the interests regarding creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath firms 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 goal of allowing the Borgward auto-businesses to survive.
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