Borgward is surely an automobile manufacturer originally created 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 autos: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grand son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the corporation's first new car in over 40 years, the BX7 at the particular 2015 International Motor Present.The origins of Bremen's most significant auto-business get back to 1905 with the place in nearby Varel of the "Hansa Automobilgesellschaft" and the walls in Bremen itself regarding "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and because of the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand your scope of his car business, and he took control than it.
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The primary "automobile" Carl Borgward intended was the 1924 Blitzkarren (lightning 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 got it for delivery. The Reichspost ordered some of them for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the however three wheeler timber framed synthetic leather bodied 5 as well as 7 hp Goliath Pioneer. Borgward turned his care about the other businesses as well as led the development of the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 and in 1939 the label was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from firms he had acquired over time to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business during a period of austerity and rationing. For many purposes nokia's would be run to be a single entity, but in a business operated by the man to whom delegation failed to come naturally the spreading of legal entities nevertheless added unhelpful layers of complexity with the 1950s and encouraged a broadening on the range which ultimately proved financially unsustainable while using the sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.Among the top engineers at Borgward coming from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out 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 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers within the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (which was also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such since air suspension and programmed transmission, the company had trouble competing in the market. While larger companies similar to Opel and VW took advantage of economies of scale in addition to 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 and do not implemented such basic expense reduction strategies as joint development and parts sharing between the company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced being a water-cooled boxer with top wheel drive, but plagued with problems like water leakage and gearbox mistakes. Lloyd lost money on the car community . was more expensive than its direct competitors.In 1961, the company was forced into liquidation by lenders. Carl Borgward died with July 1963, still insisting the company were being technically solvent. This proved to be true from the sense that after the creditors were paid in full, there was still 4. 5 million Marks remaining from the business.
The Borgward Isabella was the successor to the Borgward Hansa, and it
Reviews of difficulties at Borgward surfaced in an article that appeared within Germany's leading news newspaper, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly critical of Carl Borgward's business approach, and included many on the arguments later advanced to spellout or justify the businesses demise. The widest range regarding cars from any company in Germany, produced by three till recently operationally autonomous corporations (Borgward, Goliath and Lloyd) had been supporting a turnover of only 650 million Scars, placing the overall sales value from the combined Borgward auto corporations only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation associated with new and modified models featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") offered rise to components which too often did not work, broke down or dropped apart, resulting in massive costs for pre-delivery remediation and/or publish delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article wasn't the only serious open criticism targeting Borgward at the moment: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild magazine and in television stories. Critical media commentaries additionally appeared concerning large loans towards Borgward Group provided because of the local Landesbank.It is apparent that the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses including auto manufacturing use their expensive machines and tools most efficiently should they use them constantly on full capacity, but the car market in Europe in the 1950s/60s was more periodic than today, with sales diminishing in Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars at the end of 1960 was higher than usual, reflecting ambitious growth strategies, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered by the North American dealers with 1960 (and from the 12, 000 delivered to these) 6, 000 might have to be taken back following a slump in Us demand. (Borgward was not the sole European auto maker hit by way of North American slump popular for imported cars in the course of 1960. In the same yr two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached the financial institution for a further one particular million Marks of credit rating, the loan to be backed by way of a guarantee from the Bremen regional government which initially the Bremen senators agreed to provide. However, following the flood involving critical press comment the senators withdrew their assurance. 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 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 in addition insisted on appointing its nominee as chairman with the company’s supervisory board. The man they decided to go with was Johannes Semler to whom reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice for the breadth of Semler’s career. He had studied regulation at university and worked initially as being a lawyer. The scion of a number one Hamburg political family, in 1945 he acquired himself been a founding person in the centre-right CSU bash, and was a person in the Bundestag between 1950 and also 1953. Despite his Hamburg sources, Semler was by now based in Munich, with a network of contacts inside the Bavarian establishment that probably included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position within the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators in order to chair the Borgward supervisory table would, in retrospect, contribute to the controversy that followed the Borgward a bankruptcy proceeding.
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In 28 July 1961 Semler, as Chairman of this supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling this company to continue to trade while concurrently protecting the interests of creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November through 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 in order to survive.
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