Borgward can be an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in this 1960s. The Borgward group created four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grandson, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the corporation's first new car throughout over 40 years, the BX7 at your 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business resume 1905 with the place in nearby Varel in the "Hansa Automobilgesellschaft" and the muse in Bremen itself regarding "Namag", maker of the Lloyd car. 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 by the late 1920s faced chapter 7. For Carl Borgward, already the successful creator on 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 of it.
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The initial "automobile" Carl Borgward intended was the 1924 Blitzkarren (super cart), a sort of teeny 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 many for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the nevertheless three wheeler timber framed synthetic leather bodied 5 as well as 7 hp Goliath Leader. Borgward turned his attention to the other businesses in addition to led the development on the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 and in 1939 the label was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from firms he had acquired over time to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business each time of austerity and rationing. For many purposes the companies would be run as being a single entity, but in a business operated by a man to whom delegation didn't come naturally the expansion of legal entities nevertheless added unhelpful layers of complexity with the 1950s and encouraged a broadening from the range which eventually proved financially unsustainable with all the sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.One of the 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 in-demand model and remained in production with the life of the business. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a brand 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 was also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such as air suspension and intelligent transmission, the company had trouble competing available. While larger companies including Opel and VW took advantage of economies of scale and also kept their prices low to get market share, Borgward's cost structure was even greater than necessary for its sizing, as it basically operated as four tiny independent companies and do not implemented such basic cost reduction strategies as joint development and parts sharing between your company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced as a water-cooled boxer with entry wheel drive, but plagued with problems including water leakage and gearbox mistakes. Lloyd lost money on the car even though it was more expensive than its direct competitors.In 1961, the company was pushed into liquidation by creditors. Carl Borgward died with July 1963, still insisting the company ended up technically solvent. This proved to be true inside sense that after the actual creditors were paid 100 %, there was still four. 5 million Marks left from the business.
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Accounts of difficulties at Borgward surfaced in a article that appeared within Germany's leading news publication, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly critical of Carl Borgward's enterprise approach, and included many of the arguments later advanced to describe or justify the corporation's demise. The widest range associated with cars from any producer in Germany, produced by three right up until recently operationally autonomous firms (Borgward, Goliath and Lloyd) has been supporting a turnover of only 650 million Marks, placing the overall sales value from the combined Borgward auto businesses only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation regarding new and modified versions featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") offered rise to components which too much did not work, broke down or chop down apart, resulting in massive costs for pre-delivery remediation and/or post delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article was not the only serious public criticism targeting Borgward presently: suddenly stridently negative (in case more succinct) comments also turned up in the influential mass-market Bild newspaper and in television reports. Critical media commentaries furthermore appeared concerning large loans towards Borgward Group provided because of the local Landesbank.It is apparent that this business was confronting cash-flow difficulties towards 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 from the 1950s/60s was more in season than today, with sales diminishing throughout Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars right at the end of 1960 was more than usual, reflecting ambitious growth programs, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered through the North American dealers in 1960 (and with the 12, 000 delivered to these) 6, 000 might have to be taken back following a slump in North american demand. (Borgward was not really the only European auto maker hit by way of a North American slump widely used for imported cars while in 1960. In the same season two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
At the end of December 1960 Borgward approached the financial institution for a further one particular million Marks of credit history, the loan to be backed with a guarantee from the Bremen regional government which initially the Bremen senators decided to provide. However, following the flood connected with critical press comment the particular 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 this senate’s terms on 4 February 1961, thereby averting the bankruptcy with the business.The Bremen Senate additionally insisted on appointing a nominee as chairman in the company’s supervisory board. The man they decided was Johannes Semler whom reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice to the breadth of Semler’s vocation. He had studied regulation at university and worked initially being a lawyer. The scion of a respected Hamburg political family, in 1945 he experienced himself been a founding member of the centre-right CSU bash, and was a member of the Bundestag between 1950 in addition to 1953. Despite his Hamburg beginning, Semler was by this time around based in Munich, with a network of contacts within the Bavarian establishment that almost certainly included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position within the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators to help chair the Borgward supervisory panel would, in retrospect, contribute to the debate that followed the Borgward a bankruptcy proceeding.
In 28 July 1961 Semler, as Chairman of your 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 company to continue to trade while simultaneously protecting the interests associated with creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his very own, never had any intention of allowing the Borgward auto-businesses in order to survive.
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