Borgward is an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in this 1960s. The Borgward group created four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's grand son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from China investment, and unveiled the corporation's first new car within over 40 years, the BX7 at the particular 2015 International Motor Show.The origins of Bremen's most significant auto-business resume 1905 with the place in nearby Varel in the "Hansa Automobilgesellschaft" and the walls in Bremen itself of "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 economic situation then confronting Germany, the business failed to prosper and because of the late 1920s faced chapter 7. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand your scope of his car business, and he took control of it.
The primary "automobile" Carl Borgward designed was the 1924 Blitzkarren (super cart), a sort of teeny three-wheeled van with 3 hp (1. 5 kW), which was an enormous success already in the market gap it filled. Traders with a small budget purchased for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the nonetheless three wheeler timber presented synthetic leather bodied 5 or maybe 7 hp Goliath Master. Borgward turned his attention to the other businesses and also led the development with the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 along with in 1939 the name was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from businesses he had acquired in the past to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business each time of austerity and rationing. For many purposes the firms would be run to be a single entity, but in a business operated with a man to whom delegation wouldn't come naturally the proliferation of legal entities even so added unhelpful layers of complexity throughout the 1950s and encouraged a broadening on the range which eventually proved financially unsustainable while using the sales volumes achievable. In 1949 company offered 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 in-demand model and remained in production for the life of the business. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that is also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such as air suspension and automatic transmission, the company had trouble competing available. While larger companies like Opel and VW took selling point of economies of scale and also kept their prices low to get market share, Borgward's cost structure was even greater than necessary for its sizing, as it basically handled as four tiny independent companies and not implemented such basic cost reduction strategies as shared development and parts sharing relating to the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced to be a water-cooled boxer with entrance wheel drive, but plagued with problems for instance water leakage and gearbox mistakes. Lloyd lost money on the car even though it was more expensive than its direct competitors.In 1961, the company was pushed into liquidation by lenders. Carl Borgward died inside July 1963, still insisting the company have been technically solvent. This proved to be true from the sense that after the particular creditors were paid in full, there was still 4. 5 million Marks left from the business.
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Accounts of difficulties at Borgward surfaced in a article that appeared within Germany's leading news magazine, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly vital of Carl Borgward's business approach, and included many on the arguments later advanced to spell out or justify the company's demise. The widest range involving cars from any manufacturer in Germany, produced by three until finally recently operationally autonomous companies (Borgward, Goliath and Lloyd) was supporting a turnover connected with only 650 million Scars, placing the overall sales value through the combined Borgward auto organizations only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation regarding new and modified types 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 droped apart, resulting in massive expenses for pre-delivery remediation and/or post delivery warranty work that found their in the past to the company.The December 1960 Spiegel article wasn't the only serious open 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 reviews. Critical media commentaries additionally appeared concerning large loans to the Borgward Group provided because of the local Landesbank.It is apparent how the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses for instance auto manufacturing use their particular expensive machines and tools most efficiently as long as they use them constantly at full capacity, but the car market in Europe inside 1950s/60s was more periodic than today, with sales diminishing inside Winter, then peaking in early summer months: Borgward’s inventory of unsold cars at the end of 1960 was higher than usual, reflecting ambitious growth options, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered because of the North American dealers in 1960 (and on the 12, 000 delivered to these people) 6, 000 might have being taken back following a slump in American demand. (Borgward was not the only European auto maker hit with 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 Big apple were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached your banker for a further just one million Marks of credit score, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators consented to provide. However, following the flood connected with critical press comment your senators withdrew their guarantee. They now required Carl Borgward to pledge the organization itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported in the still hostile media, Borgward agreed to the actual senate’s terms on four February 1961, thereby averting the bankruptcy on the business.The Bremen Senate likewise insisted on appointing a unique nominee as chairman in the company’s supervisory board. The man they decided to go with was Johannes Semler with whom reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice to the breadth of Semler’s career. He had studied legislation at university and worked initially as being 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 gathering, and was a person in the Bundestag between 1950 and also 1953. Despite his Hamburg roots, Semler was by this time around based in Munich, with a network of contacts within the Bavarian establishment that possibly included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position inside the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators to chair the Borgward supervisory mother board would, in retrospect, contribute to the hot debate that followed the Borgward bankruptcy.
On 28 July 1961 Semler, as Chairman of the supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling this company to continue to trade while as well protecting the interests associated with creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his own, never had any purpose of allowing the Borgward auto-businesses to survive.
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