Borgward is surely an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the particular 1960s. The Borgward group developed four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grandson, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from China investment, and unveiled the firm's first new car inside over 40 years, the BX7 at this 2015 International Motor Indicate.The origins of Bremen's most significant auto-business return to 1905 with the establishment in nearby Varel from the "Hansa Automobilgesellschaft" and the foundation in Bremen itself associated with "Namag", maker of the Lloyd car. These two businesses merged in 1914 to form 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 bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand the scope of his automotive business, and he took control of it.
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The first "automobile" Carl Borgward created was the 1924 Blitzkarren (lightning cart), a sort of teeny three-wheeled van with 3 hp (1. 5 kW), which was an enormous success out there 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 movie director of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the even now three wheeler timber framed synthetic leather bodied 5 or perhaps 7 hp Goliath Master. Borgward turned his focus on the other businesses and led the development from the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 as well as in 1939 the identify was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from businesses he had acquired over the years to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business each time of austerity and rationing. For many purposes nokia's would be run as a single entity, but in a business operated with a man to whom delegation wouldn't come naturally the expansion of legal entities nevertheless added unhelpful layers of complexity with the 1950s and encouraged a broadening of the range which ultimately proved financially unsustainable while using the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of several top engineers at Borgward through 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 corporation. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (which has been also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such since air suspension and intelligent transmission, the company had trouble competing available on the market. While larger companies like Opel and VW took advantage of economies of scale as well as kept their prices low to realize market share, Borgward's cost structure was even above necessary for its dimensions, as it basically handled as four tiny independent companies and not implemented such basic cost reduction strategies as mutual development and parts sharing between your company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced as being a water-cooled boxer with front wheel drive, but plagued with problems for instance water leakage and gearbox glitches. Lloyd lost money on the car community . was more expensive in comparison with its direct competitors.In 1961, the company was compelled into liquidation by credit card companies. Carl Borgward died with July 1963, still insisting the company have been technically solvent. This proved to be true from the sense that after your creditors were paid 100 %, there was still some. 5 million Marks left from the business.
Studies of difficulties at Borgward surfaced in a article that appeared inside Germany's leading news mag, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly essential of Carl Borgward's enterprise approach, and included many on the arguments later advanced to spellout or justify the company's demise. The widest range of cars from any maker in Germany, produced by three until recently operationally autonomous organizations (Borgward, Goliath and Lloyd) had been supporting a turnover regarding only 650 million Marks, placing the overall sales value from your 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 involving new and modified products featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") gave rise to components which too much did not work, broke down or chop down apart, resulting in massive expenses for pre-delivery remediation and/or post delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article hasn't 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 paper and in television stories. Critical media commentaries in addition appeared concerning large loans on the Borgward Group provided with the local Landesbank.It is apparent that this business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses for example auto manufacturing use their particular expensive machines and tools most efficiently as long as they use them constantly on full capacity, but the car market in Europe inside the 1950s/60s was more temporary than today, with sales diminishing with Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars towards the end of 1960 was greater than usual, reflecting ambitious growth strategies, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered because of the North American dealers inside 1960 (and with the 12, 000 delivered to them) 6, 000 might have to get 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 throughout 1960. In the same season two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the lending company for a further one million Marks of credit score, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators decided provide. However, following the flood involving critical press comment the particular senators withdrew their promise. 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 the senate’s terms on several February 1961, thereby averting the bankruptcy in the business.The Bremen Senate furthermore insisted on appointing a nominee as chairman on the company’s supervisory board. The man they select was Johannes Semler which reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice to the breadth of Semler’s occupation. He had studied regulation at university and worked initially like a lawyer. The scion of a respected Hamburg political family, in 1945 he had himself been a founding person in the centre-right CSU bash, and was a member of the Bundestag between 1950 and also 1953. Despite his Hamburg beginning, Semler was by now based in Munich, with a network of contacts from 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 inside a top administrative position in the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators in order to chair the Borgward supervisory panel would, in retrospect, contribute to the debate that followed the Borgward bankruptcy.
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With 28 July 1961 Semler, as Chairman of the actual 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 a court sanctioned scheme of arrangement enabling the company to continue to trade while concurrently protecting the interests of creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of his own, never had any intent of allowing the Borgward auto-businesses for you to survive.
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