Borgward can be an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the 1960s. The Borgward group made four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grandson, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from China investment, and unveiled the company's first new car in over 40 years, the BX7 at the 2015 International Motor Indicate.The origins of Bremen's most significant auto-business get back to 1905 with the organization in nearby Varel in the "Hansa Automobilgesellschaft" and the foundation in Bremen itself regarding "Namag", maker of the Lloyd vehicle. 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 because of the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand the particular scope of his vehicle business, and he took control than it.
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The very first "automobile" Carl Borgward created was the 1924 Blitzkarren (turbo cart), a sort of teeny three-wheeled van with two hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the still three wheeler timber framed synthetic leather bodied 5 or perhaps 7 hp Goliath Founder. Borgward turned his awareness of the other businesses along with led the development of the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 and in 1939 the brand was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from corporations he had acquired over the years to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business during a period 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 spreading of legal entities on the other hand added unhelpful layers of complexity throughout the 1950s and encouraged a broadening of the range which in the long run proved financially unsustainable with the sales volumes achievable. In 1949 company shown 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 started in 1954. The Isabella would become Borgward's most widely used 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 line of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these becoming 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 seeing that air suspension and automated transmission, the company had trouble competing available on the market. While larger companies similar to Opel and VW took good thing about economies of scale and also kept their prices low to gain market share, Borgward's cost structure was even greater than necessary for its sizing, as it basically run as four tiny independent companies and never implemented such basic expense reduction strategies as joint development and parts sharing relating to the company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced to be a water-cooled boxer with entrance wheel drive, but plagued with problems including water leakage and gearbox glitches. Lloyd lost money on the car although it was more expensive as compared to its direct competitors.In 1961, the company was compelled into liquidation by lenders. Carl Borgward died inside July 1963, still insisting the company were being technically solvent. This proved to be true inside sense that after the actual creditors were paid 100 %, there was still several. 5 million Marks left from the business.
By Jack R. Nerad and KBB.com on September 16, 2015 4:13 AM
Accounts of difficulties at Borgward surfaced in an article that appeared within Germany's leading news publication, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly critical of Carl Borgward's enterprise approach, and included many with the arguments later advanced to describe or justify the corporation's demise. The widest range regarding cars from any manufacturer in Germany, produced by three right up until recently operationally autonomous firms (Borgward, Goliath and Lloyd) had been supporting a turnover involving only 650 million Represents, placing the overall sales value through the combined Borgward auto corporations only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation regarding new and modified designs featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") gave rise to components which all too often did not work, broke down or fell into apart, resulting in massive charges for pre-delivery remediation and/or write-up delivery warranty work that found their way back to the company.The December 1960 Spiegel article has not been the only serious community criticism targeting Borgward presently: suddenly stridently negative (when more succinct) comments also turned up in the influential mass-market Bild newspaper and in television studies. Critical media commentaries likewise appeared concerning large loans to the Borgward Group provided from the local Landesbank.It is apparent how the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses for example auto manufacturing use their own expensive machines and tools most efficiently should they use them constantly on full capacity, but the car market in Europe inside the 1950s/60s was more in season than today, with sales diminishing inside Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars at the end of 1960 was more than usual, reflecting ambitious growth options, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered with the North American dealers inside 1960 (and of the 12, 000 delivered to these people) 6, 000 might have for being taken back following a slump in Us demand. (Borgward was not the only European auto maker hit by a North American slump in demand for imported cars during 1960. In the same 12 months 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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At the end of December 1960 Borgward approached your banker for a further 1 million Marks of credit, the loan to be backed by a guarantee from the Bremen local government which initially the Bremen senators opted for provide. However, following the flood of 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 within a still hostile media, Borgward agreed to this senate’s terms on four February 1961, thereby averting the bankruptcy from the business.The Bremen Senate additionally insisted on appointing its nominee as chairman on the company’s supervisory board. The man they selected was Johannes Semler to whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice to the breadth of Semler’s occupation. He had studied legislations at university and worked initially being a lawyer. The scion of a respected Hamburg political family, in 1945 he got himself been a founding member of the centre-right CSU get together, and was a member of the Bundestag between 1950 along with 1953. Despite his Hamburg roots, Semler was by this time around based in Munich, with a network of contacts in the Bavarian establishment that most likely 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 representative of the Bremen senators to chair the Borgward supervisory table would, in retrospect, contribute to the conflict that followed the Borgward chapter 7.
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Upon 28 July 1961 Semler, as Chairman of your 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 the court sanctioned scheme of arrangement enabling the business to continue to trade while at the same time protecting the interests connected with creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his very own, never had any objective of allowing the Borgward auto-businesses to help survive.
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