Borgward can be an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in the 1960s. The Borgward group produced four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grand son, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the businesses first new car inside over 40 years, the BX7 at your 2015 International Motor Present.The origins of Bremen's most significant auto-business get back to 1905 with the institution in nearby Varel on the "Hansa Automobilgesellschaft" and the muse in Bremen itself of "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economic situation then confronting Germany, the business failed to prosper and because of the late 1920s faced chapter 7. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand your scope of his automobile business, and he took control from it.
The very first "automobile" Carl Borgward developed was the 1924 Blitzkarren (super cart), a sort of little 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 bought for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the even now three wheeler timber framed synthetic leather bodied 5 as well as 7 hp Goliath Master. Borgward turned his care about the other businesses in addition to led the development in the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 along with in 1939 the label was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from corporations he had acquired in recent times to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business at a time of austerity and rationing. For many purposes nokia's would be run like a single entity, but in a business operated by a man to whom delegation wouldn't come naturally the growth of legal entities nevertheless added unhelpful layers of complexity with the 1950s and encouraged a broadening in the range which eventually proved financially unsustainable using the sales volumes achievable. In 1949 company presented 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 began in 1954. The Isabella would become Borgward's most popular model and remained in production to the life of the corporation. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (that is also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such seeing that air suspension and programmed transmission, the company had trouble competing out there. While larger companies like Opel and VW took benefit from economies of scale and kept their prices low to realize market share, Borgward's cost structure was even greater than necessary for its sizing, as it basically operated as four tiny independent companies and not implemented such basic price tag 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 for example water leakage and gearbox secrets. Lloyd lost money on the car though it was more expensive when compared with its direct competitors.In 1961, the company was pushed into liquidation by collectors. Carl Borgward died with July 1963, still insisting the company were being technically solvent. This proved to be true within the sense that after this creditors were paid in full, there was still several. 5 million Marks left from the business.
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Stories of difficulties at Borgward surfaced within the 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 with a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly crucial of Carl Borgward's organization approach, and included many from the arguments later advanced to describe or justify the company's demise. The widest range regarding cars from any supplier in Germany, produced by three till recently operationally autonomous businesses (Borgward, Goliath and Lloyd) was supporting a turnover associated with only 650 million Scars, placing the overall sales value from your combined Borgward auto firms only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation associated with new and modified products featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") gave rise to components which all too often did not work, broke down or fell into apart, resulting in massive costs for pre-delivery remediation and/or submit delivery warranty work that found their in the past to the company.The December 1960 Spiegel article hasn't been the only serious open public criticism targeting Borgward at this time: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild newspaper and in television reviews. Critical media commentaries also appeared concerning large loans on 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 as long as they use them constantly at full capacity, but the car market in Europe from the 1950s/60s was more seasonal than today, with sales diminishing with Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars by the end of 1960 was higher than usual, reflecting ambitious growth programs, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered from the North American dealers in 1960 (and with the 12, 000 delivered to these) 6, 000 might have to get taken back following a slump in United states demand. (Borgward was not the only European auto maker hit by a North American slump popular for imported cars while in 1960. In the same year two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached the lender for a further a single million Marks of credit history, the loan to be backed with a guarantee from the Bremen regional government which initially the Bremen senators decided provide. However, following the flood of critical press comment this senators withdrew their assurance. They now required Carl Borgward to pledge the company itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported in the still hostile media, Borgward agreed to the actual senate’s terms on four February 1961, thereby averting the bankruptcy of the business.The Bremen Senate furthermore insisted on appointing its own nominee as chairman of the company’s supervisory board. The man they decided was Johannes Semler which reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice for the breadth of Semler’s profession. He had studied legislation 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 and also 1953. Despite his Hamburg roots, Semler was by these times based in Munich, with a network of contacts inside the Bavarian establishment that possibly included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position inside the Bizone. The appointment of Johannes Semler because representative of the Bremen senators in order to chair the Borgward supervisory board would, in retrospect, contribute to the hot debate that followed the Borgward individual bankruptcy.
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In 28 July 1961 Semler, as Chairman of the 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 simultaneously protecting the interests connected with creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of their own, never had any objective of allowing the Borgward auto-businesses to survive.
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