Borgward is surely an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the particular 1960s. The Borgward group made four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the firm's first new car inside over 40 years, the BX7 at the 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business resume 1905 with the establishment in nearby Varel in the "Hansa Automobilgesellschaft" and the foundation in Bremen itself associated with "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 financial crisis then confronting Germany, the business failed to prosper and with the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator from 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 1st "automobile" Carl Borgward designed was the 1924 Blitzkarren (super cart), a sort of very small three-wheeled van with 2 hp (1. 5 kW), which was an enormous success available 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 home of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the however three wheeler timber framed synthetic leather bodied 5 or even 7 hp Goliath Founder. Borgward turned his awareness of the other businesses in addition to led the development with the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 along with in 1939 the title was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from companies he had acquired in the past to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business at the same time of austerity and rationing. For many purposes the lenders would be run like a single entity, but in a business operated by a man to whom delegation failed to come naturally the expansion of legal entities even so added unhelpful layers of complexity from the 1950s and encouraged a broadening on the range which in the long run proved financially unsustainable with the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of the top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's hottest model and remained in production for your life of the business. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (that is also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such while air suspension and programmed transmission, the company had trouble competing available. While larger companies such as Opel and VW took advantage of economies of scale and kept their prices low to get market share, Borgward's cost structure was even beyond necessary for its dimension, as it basically handled as four tiny independent companies rather than implemented such basic expense reduction strategies as combined development and parts sharing between company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced like a water-cooled boxer with entry wheel drive, but plagued with problems like water leakage and gearbox mistakes. Lloyd lost money on the car even though it was more expensive in comparison with its direct competitors.In 1961, the company was compelled into liquidation by credit card companies. Carl Borgward died with July 1963, still insisting the company have been technically solvent. This proved to be true from the sense that after the actual creditors were paid completely, there was still several. 5 million Marks left over from the business.
Reviews of difficulties at Borgward surfaced in a article that appeared throughout Germany's leading news mag, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly important of Carl Borgward's company approach, and included many from the arguments later advanced to spellout or justify the businesses demise. The widest range connected with cars from any supplier in Germany, produced by three till recently operationally autonomous firms (Borgward, Goliath and Lloyd) has been supporting a turnover regarding only 650 million Signifies, placing the overall sales value through the combined Borgward auto firms only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation associated with new and modified products featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") afforded rise to components which too much did not work, broke down or droped apart, resulting in massive costs for pre-delivery remediation and/or post delivery warranty work that found their long ago to the company.The December 1960 Spiegel article wasn't the only serious open public criticism targeting Borgward right now: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild newspaper and in television accounts. Critical media commentaries also appeared concerning large loans towards Borgward Group provided by the local Landesbank.It is apparent which the 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 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 inside Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars at the end of 1960 was above usual, reflecting ambitious growth programs, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered from the North American dealers with 1960 (and of the 12, 000 delivered to these) 6, 000 might have to get taken back following a slump in North american demand. (Borgward was not the one European auto maker hit by a North American slump sought after for imported cars during 1960. In the same 12 months two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
By the end of December 1960 Borgward approached the bank for a further a single million Marks of credit, the loan to be backed by way of guarantee from the Bremen regional government which initially the Bremen senators agreed to provide. However, following the flood connected with critical press comment this senators withdrew their assure. They now required Carl Borgward to pledge the business 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 actual senate’s terms on several February 1961, thereby averting the bankruptcy in the business.The Bremen Senate also insisted on appointing its own nominee as chairman in the company’s supervisory board. The man they selected was Johannes Semler who reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice to the breadth of Semler’s career. He had studied rules at university and worked initially being a lawyer. The scion of a top Hamburg political family, in 1945 he experienced himself been a founding person in the centre-right CSU gathering, and was a person in the Bundestag between 1950 as well as 1953. Despite his Hamburg beginning, Semler was by on this occasion based in Munich, with a network of contacts within the Bavarian establishment that possibly included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position inside Bizone. The appointment of Johannes Semler since the representative of the Bremen senators for you to chair the Borgward supervisory mother board would, in retrospect, contribute to the conflict that followed the Borgward personal bankruptcy.
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About 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 for a court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while concurrently protecting the interests associated with creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his or her own, never had any objective of allowing the Borgward auto-businesses to help survive.
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