Borgward can be an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in the particular 1960s. The Borgward group created four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's son, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the corporation's first new car in over 40 years, the BX7 at this 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business return to 1905 with the institution in nearby Varel in the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself regarding "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 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 bankruptcy. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the particular scope of his auto business, and he took control of computer.
The primary "automobile" Carl Borgward designed was the 1924 Blitzkarren (super cart), a sort of little 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 some of them for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 or perhaps 7 hp Goliath Leader. Borgward turned his attention to the other businesses and led the development on the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and in 1939 the identify was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from companies he had acquired over time to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business at the same time of austerity and rationing. For many purposes the businesses would be run as being a single entity, but in a business operated with a man to whom delegation would not come naturally the spreading of legal entities nevertheless added unhelpful layers of complexity through the 1950s and encouraged a broadening from the range which finally proved financially unsustainable with the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of the top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's most favored model and remained in production for that life of the company. In 1960 the Borgward P100 had been 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 to become successful Formula Two power unit (that has been also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such because air suspension and computerized transmission, the company had trouble competing available on the market. While larger companies such as Opel and VW took good thing about economies of scale and kept their prices low to achieve market share, Borgward's cost structure was even greater than necessary for its dimension, as it basically controlled as four tiny independent companies and do not implemented such basic charge reduction strategies as joint development and parts sharing between the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced as a water-cooled boxer with entrance wheel drive, but plagued with problems such as water leakage and gearbox secrets. Lloyd lost money on the car just about the most was more expensive in comparison with its direct competitors.In 1961, the company was pressured into liquidation by creditors. Carl Borgward died in July 1963, still insisting the company ended up 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 left from the business.
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Reviews of difficulties at Borgward surfaced within the article that appeared within Germany's leading news magazine, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly essential of Carl Borgward's organization approach, and included many with the arguments later advanced to spell out or justify the firm's demise. The widest range involving cars from any company in Germany, produced by three until finally recently operationally autonomous organizations (Borgward, Goliath and Lloyd) seemed to be supporting a turnover of only 650 million Grades, placing the overall sales value on the combined Borgward auto corporations only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation of new and modified designs featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") provided rise to components which excessively did not work, broke down or droped 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 wasn't the only serious general public criticism targeting Borgward right now: suddenly stridently negative (in the event more succinct) comments also turned up in the influential mass-market Bild magazine and in television reports. Critical media commentaries in addition appeared concerning large loans on the Borgward Group provided because of the local Landesbank.It is apparent how the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses for example auto manufacturing use his or her expensive machines and tools most efficiently as long as they use them constantly with full capacity, but the car market in Europe within the 1950s/60s was more seasonal than today, with sales diminishing in Winter, then peaking in earlier 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 the united states market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered through the North American dealers in 1960 (and on the 12, 000 delivered to them) 6, 000 might have to be taken back following a slump in United states demand. (Borgward was not the only real European auto maker hit by way of a North American slump in demand for imported cars during 1960. In the same calendar year two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached the lending company for a further a single million Marks of credit ratings, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators decided to provide. However, following the flood associated with critical press comment the actual senators withdrew their ensure. They now required Carl Borgward to pledge the company itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported inside a still hostile media, Borgward agreed to the actual senate’s terms on some February 1961, thereby averting the bankruptcy in the business.The Bremen Senate in addition insisted on appointing a nominee as chairman of the company’s supervisory board. The man they decided to go with was Johannes Semler to whom reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice on the breadth of Semler’s vocation. He had studied legislation at university and worked initially being a lawyer. The scion of a top Hamburg political family, in 1945 he acquired himself been a founding person in the centre-right CSU get together, and was a person in the Bundestag between 1950 as well as 1953. Despite his Hamburg origins, Semler was by now based in Munich, with a network of contacts inside Bavarian establishment that most likely included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position in 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 dispute that followed the Borgward personal bankruptcy.
With 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors from the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the business to continue to trade while simultaneously protecting the interests of creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his or her own, never had any intention of allowing the Borgward auto-businesses to be able to survive.
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