Borgward is an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in the particular 1960s. The Borgward group generated four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grandson, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the company's first new car in over 40 years, the BX7 at your 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business get back to 1905 with the place in nearby Varel of the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself of "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and because of the late 1920s faced chapter 7. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the actual scope of his vehicle business, and he took control of computer.
The initial "automobile" Carl Borgward intended was the 1924 Blitzkarren (super cart), a sort of tiny three-wheeled van with a couple of 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 many of them for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the even now three wheeler timber presented synthetic leather bodied 5 or perhaps 7 hp Goliath Master. Borgward turned his focus on the other businesses and led the development with the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and also in 1939 the name was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from companies he had acquired in the past to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business at the same 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 a man to whom delegation would not come naturally the growth of legal entities on the other hand added unhelpful layers of complexity over the 1950s and encouraged a broadening from the range which ultimately proved financially unsustainable with all the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of many top engineers at Borgward by 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 for the life of the company. In 1960 the Borgward P100 was 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 to become successful Formula Two power unit (which was also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such because air suspension and intelligent transmission, the company had trouble competing available on the market. While larger companies including Opel and VW took advantage of economies of scale and kept their prices low to realize market share, Borgward's cost structure was even above necessary for its size, as it basically handled as four tiny independent companies and don't implemented such basic charge reduction strategies as mutual development and parts sharing between your company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced like a water-cooled boxer with entry wheel drive, but plagued with problems such as water leakage and gearbox snags. Lloyd lost money on the car community . was more expensive in comparison with its direct competitors.In 1961, the company was forced into liquidation by loan companies. Carl Borgward died in July 1963, still insisting the company had been technically solvent. This proved to be true in the sense that after this 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 in a article that appeared in Germany's leading news magazine, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly vital of Carl Borgward's business approach, and included many on the arguments later advanced to explain or justify the firm's demise. The widest range involving cars from any supplier in Germany, produced by three till recently operationally autonomous businesses (Borgward, Goliath and Lloyd) ended up being supporting a turnover regarding only 650 million Signifies, placing the overall sales value from the combined Borgward auto companies only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation associated with new and modified models featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") gave rise to components which all too often did not work, broke down or droped apart, resulting in massive expenses for pre-delivery remediation and/or post delivery warranty work that found their long ago to the company.The December 1960 Spiegel article had not been the only serious general public criticism targeting Borgward at this time: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild newspapers and in television accounts. Critical media commentaries also appeared concerning large loans towards the Borgward Group provided by the local Landesbank.It is apparent that this business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses for instance auto manufacturing use their expensive machines and tools most efficiently as long as 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 throughout Winter, then peaking in early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was beyond usual, reflecting ambitious growth strategies, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered through the North American dealers throughout 1960 (and in the 12, 000 delivered to these) 6, 000 might have to become taken back following a slump in Us demand. (Borgward was not the only European auto maker hit by way of a North American slump successful 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 Ny were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the lender for a further a single million Marks of credit ratings, the loan to be backed with a guarantee from the Bremen regional government which initially the Bremen senators opted for provide. However, following the flood of critical press comment the senators withdrew their promise. They now required Carl Borgward to pledge the organization itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in a very still hostile media, Borgward agreed to the actual senate’s terms on 5 February 1961, thereby averting the bankruptcy from the business.The Bremen Senate likewise insisted on appointing its very own nominee as chairman with the company’s supervisory board. The man they chose was Johannes Semler which reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice towards breadth of Semler’s occupation. He had studied rules at university and worked initially 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 celebration, and was a person in the Bundestag between 1950 along with 1953. Despite his Hamburg sources, Semler was by this time based in Munich, with a network of contacts in the Bavarian establishment that possibly included fellow CSU politician plus 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 for the reason that representative of the Bremen senators to help 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 particular supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the business to continue to trade while as well protecting the interests associated with creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of her own, never had any objective of allowing the Borgward auto-businesses in order to survive.
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