Borgward is an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in the actual 1960s. The Borgward group created four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's son, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from China investment, and unveiled the firm's first new car in over 40 years, the BX7 at the actual 2015 International Motor Indicate.The origins of Bremen's most significant auto-business return to 1905 with the establishment in nearby Varel in the "Hansa Automobilgesellschaft" and the foundation in Bremen itself involving "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economic situation then confronting Germany, the business failed to prosper and from the late 1920s faced chapter 7. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand your scope of his vehicle business, and he took control than it.
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The 1st "automobile" Carl Borgward made 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 purchased for delivery. The Reichspost ordered most 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 & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the still three wheeler timber presented synthetic leather bodied 5 or perhaps 7 hp Goliath Master. Borgward turned his awareness of the other businesses and also led the development with the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 along with in 1939 the brand was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from companies he had acquired in the past to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business during a period of austerity and rationing. For many purposes the businesses would be run being a single entity, but in a business operated by way of a man to whom delegation didn't come naturally the growth of legal entities on the other hand added unhelpful layers of complexity with the 1950s and encouraged a broadening from the range which in the long run proved financially unsustainable with all the sales volumes achievable. In 1949 company presented 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 begun in 1954. The Isabella would become Borgward's most widely used model and remained in production for the life of the firm. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these learning to be a successful Formula Two power unit (which was also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such while air suspension and programmed transmission, the company had trouble competing available. While larger companies like Opel and VW took selling point of economies of scale as well as kept their prices low to gain market share, Borgward's cost structure was even more than necessary for its measurement, as it basically controlled as four tiny independent companies and not implemented such basic expense reduction strategies as combined development and parts sharing between your company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced as being a water-cooled boxer with entrance wheel drive, but plagued with problems including water leakage and gearbox glitches. Lloyd lost money on the car just about the most was more expensive when compared with its direct competitors.In 1961, the company was forced into liquidation by loan companies. Carl Borgward died throughout July 1963, still insisting the company ended up technically solvent. This proved to be true inside the sense that after the creditors were paid 100 %, there was still 4. 5 million Marks remaining from the business.
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Reviews of difficulties at Borgward surfaced in the article that appeared with Germany's leading news magazine, “Der Spiegel” on 14 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 entrance cover. It was strongly vital of Carl Borgward's enterprise approach, and included many in the arguments later advanced to describe or justify the businesses demise. The widest range associated with cars from any company in Germany, produced by three until recently operationally autonomous corporations (Borgward, Goliath and Lloyd) ended up being supporting a turnover of only 650 million Marks, placing the overall sales value through the combined Borgward auto corporations only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation of new and modified types featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") afforded rise to components which too much did not work, broke down or fell into apart, resulting in massive bills for pre-delivery remediation and/or write-up delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article had not been the only serious public criticism targeting Borgward at this time: suddenly stridently negative (in case more succinct) comments also resulted in in the influential mass-market Bild newspaper and in television reports. Critical media commentaries likewise appeared concerning large loans towards the Borgward Group provided from the local Landesbank.It is apparent how the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses like auto manufacturing use their particular expensive machines and tools most efficiently whenever they use them constantly in full capacity, but the car market in Europe inside 1950s/60s was more temporary than today, with sales diminishing throughout Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was above usual, reflecting ambitious growth plans, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered because of the North American dealers with 1960 (and of the 12, 000 delivered to these people) 6, 000 might have to become 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 successful for imported cars while in 1960. In the same year 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 one particular million Marks of credit rating, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators opted for provide. However, following the flood involving critical press comment this senators withdrew their assure. They now required Carl Borgward to pledge this company itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported within a still hostile media, Borgward agreed to this senate’s terms on several February 1961, thereby averting the bankruptcy with the business.The Bremen Senate additionally insisted on appointing its nominee as chairman on the company’s supervisory board. The man they chose was Johannes Semler to whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice towards the breadth of Semler’s job. He had studied legislations at university and worked initially as a lawyer. The scion of a number one Hamburg political family, in 1945 he experienced himself been a founding member of the centre-right CSU party, and was a person in the Bundestag between 1950 and 1953. Despite his Hamburg origins, Semler was by this time around based in Munich, with a network of contacts inside Bavarian establishment that most likely included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position in the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators to be able to chair the Borgward supervisory table would, in retrospect, contribute to the conflict that followed the Borgward a bankruptcy proceeding.
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On 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 just a court sanctioned scheme of arrangement enabling the company to continue to trade while as well protecting the interests regarding creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of their own, never had any goal of allowing the Borgward auto-businesses in order to survive.
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