Borgward is surely an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in this 1960s. The Borgward group developed four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's grand son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from China investment, and unveiled the businesses first new car inside over 40 years, the BX7 at this 2015 International Motor Indicate.The origins of Bremen's most significant auto-business go back to 1905 with the organization in nearby Varel on the "Hansa Automobilgesellschaft" and the muse in Bremen itself involving "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and from the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand the scope of his automotive business, and he took control of it.
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The very first "automobile" Carl Borgward intended was the 1924 Blitzkarren (turbo cart), a sort of very 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 bought it for delivery. The Reichspost ordered some of them for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the however three wheeler timber framed synthetic leather bodied 5 as well as 7 hp Goliath Pioneer. Borgward turned his attention to the other businesses along with led the development of the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 as well as in 1939 the brand was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that always been 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 distinct companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business during a period of austerity and rationing. For many purposes the businesses would be run like a single entity, but in a business operated by the man to whom delegation didn't come naturally the proliferation of legal entities nonetheless added unhelpful layers of complexity from the 1950s and encouraged a broadening on the range which finally proved financially unsustainable with all the sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.One of many top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most popular model and remained in production for the life of the business. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers in the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that is also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such since air suspension and automatic transmission, the company had trouble competing in the market. While larger companies such as Opel and VW took benefit from economies of scale in addition to kept their prices low to find market share, Borgward's cost structure was even higher than necessary for its sizing, as it basically managed as four tiny independent companies and don't implemented such basic cost reduction strategies as mutual development and parts sharing between your company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced being a water-cooled boxer with front wheel drive, but plagued with problems including water leakage and gearbox snags. Lloyd lost money on the car though it was more expensive compared to its direct competitors.In 1961, the company was required into liquidation by credit card companies. Carl Borgward died throughout 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 in full, there was still 5. 5 million Marks left over from the business.
Stories of difficulties at Borgward surfaced in an article that appeared within Germany's leading news publication, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly critical of Carl Borgward's enterprise approach, and included many with the arguments later advanced to describe or justify the firm's demise. The widest range connected with cars from any company in Germany, produced by three until finally recently operationally autonomous firms (Borgward, Goliath and Lloyd) was supporting a turnover associated with only 650 million Grades, placing the overall sales value from your combined Borgward auto firms only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation regarding new and modified types featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") gave rise to components which excessively did not work, broke down or chop down apart, resulting in massive bills for pre-delivery remediation and/or post delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article had not been the only serious open public criticism targeting Borgward at the moment: suddenly stridently negative (when more succinct) comments also turned up in the influential mass-market Bild paper and in television accounts. Critical media commentaries additionally appeared concerning large loans for the 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 including auto manufacturing use their particular expensive machines and tools most efficiently whenever they use them constantly in full capacity, but the car market in Europe within the 1950s/60s was more periodic than today, with sales diminishing with Winter, then peaking in the 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 usa market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered because of the North American dealers inside 1960 (and in the 12, 000 delivered to these) 6, 000 might have being taken back following a slump in American demand. (Borgward was not the one European auto maker hit by a North American slump successful for imported cars through 1960. In the same year 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 the guarantee from the Bremen regional government which initially the Bremen senators consented to provide. However, following the flood regarding critical press comment your senators withdrew their promise. They now required Carl Borgward to pledge the company itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in a still hostile media, Borgward agreed to this senate’s terms on four February 1961, thereby averting the bankruptcy in the business.The Bremen Senate additionally insisted on appointing its nominee as chairman in the company’s supervisory board. The man they decided to go with 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 towards breadth of Semler’s occupation. He had studied legislation at university and worked initially like a lawyer. The scion of a respected Hamburg political family, in 1945 he acquired himself been a founding person in the centre-right CSU get together, and was a person in the Bundestag between 1950 as well as 1953. Despite his Hamburg sources, Semler was by now based in Munich, with a network of contacts from 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 top administrative position within the Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators to be able to chair the Borgward supervisory table would, in retrospect, contribute to the conflict that followed the Borgward a bankruptcy proceeding.
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Upon 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the company to continue to trade while simultaneously protecting the interests of creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath firms 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 goal of allowing the Borgward auto-businesses to be able to survive.
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