Borgward is usually an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in the particular 1960s. The Borgward group generated four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from China investment, and unveiled the company's first new car throughout over 40 years, the BX7 at your 2015 International Motor Present.The origins of Bremen's most significant auto-business resume 1905 with the business in nearby Varel in the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself of "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economy then confronting Germany, the business failed to prosper and with the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the actual scope of his car business, and he took control than it.
The first "automobile" Carl Borgward created was the 1924 Blitzkarren (turbo cart), a sort of small three-wheeled van with only two hp (1. 5 kW), which was an enormous success on the market gap it filled. Traders with a small budget bought 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 oppertunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the nonetheless three wheeler timber presented synthetic leather bodied 5 as well as 7 hp Goliath Leading. Borgward turned his awareness of the other businesses along with led the development in the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and in 1939 the name 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 companies he had acquired through the years to found three distinct 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 the businesses would be run like a single entity, but in a business operated with a man to whom delegation would not come naturally the growth of legal entities nonetheless added unhelpful layers of complexity from the 1950s and encouraged a broadening from the range which eventually proved financially unsustainable with the sales volumes achievable. In 1949 company displayed 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 begun in 1954. The Isabella would become Borgward's most favored model and remained in production for the life of the business. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a type 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 inside German market such since air suspension and programmed transmission, the company had trouble competing out there. While larger companies just like Opel and VW took benefit from economies of scale as well as kept their prices low to gain market share, Borgward's cost structure was even higher than necessary for its size, as it basically controlled as four tiny independent companies and don't implemented such basic expense reduction strategies as articulation development and parts sharing between your company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced as a water-cooled boxer with the front wheel drive, but plagued with problems for example water leakage and gearbox snags. Lloyd lost money on the car community . was more expensive compared to its direct competitors.In 1961, the company was compelled into liquidation by lenders. Carl Borgward died with July 1963, still insisting the company had been technically solvent. This proved to be true inside sense that after your creditors were paid in full, there was still several. 5 million Marks left from the business.
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Reports of difficulties at Borgward surfaced in an article that appeared in Germany's leading news mag, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly critical of Carl Borgward's business approach, and included many in the arguments later advanced to describe or justify the corporation's demise. The widest range regarding cars from any maker in Germany, produced by three right up until recently operationally autonomous corporations (Borgward, Goliath and Lloyd) had been supporting a turnover associated with only 650 million Signifies, placing the overall sales value through the combined Borgward auto businesses only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation of new and modified products featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") offered rise to components which all too often did not work, broke down or fell apart, resulting in massive bills for pre-delivery remediation and/or article delivery warranty work that found their in the past to the company.The December 1960 Spiegel article had not been the only serious public criticism targeting Borgward presently: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild magazine and in television reports. Critical media commentaries furthermore appeared concerning large loans on the Borgward Group provided from the local Landesbank.It is apparent that this business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses like auto manufacturing use their expensive machines and tools most efficiently if they use them constantly at full capacity, but the car market in Europe inside the 1950s/60s was more temporary than today, with sales diminishing in Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was higher than usual, reflecting ambitious growth ideas, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered through the North American dealers inside 1960 (and in the 12, 000 delivered to all of them) 6, 000 might have to become taken back following a slump in American demand. (Borgward was not the sole European auto maker hit by way of a North American slump widely used for imported cars in the course of 1960. In the same year two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
Towards the end of December 1960 Borgward approached the bank for a further just one million Marks of credit ratings, the loan to be backed by way of a guarantee from the Bremen regional government which initially the Bremen senators opted for provide. However, following the flood involving critical press comment the particular senators withdrew their promise. They now required Carl Borgward to pledge the corporation 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 your senate’s terms on 5 February 1961, thereby averting the bankruptcy from the business.The Bremen Senate likewise insisted on appointing a nominee as chairman on the company’s supervisory board. The man they selected was Johannes Semler with whom reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice to the breadth of Semler’s occupation. He had studied rules at university and worked initially like a lawyer. The scion of a respected Hamburg political family, in 1945 he acquired himself been a founding member of the centre-right CSU celebration, and was a member of the Bundestag between 1950 and 1953. Despite his Hamburg sources, Semler was by these times based in Munich, with a network of contacts in the Bavarian establishment that most likely included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position within the Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators in order to chair the Borgward supervisory panel would, in retrospect, contribute to the controversy that followed the Borgward personal bankruptcy.
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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 for the establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the company to continue to trade while concurrently protecting the interests associated with creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of her own, never had any objective of allowing the Borgward auto-businesses to survive.
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