Borgward is surely an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in your 1960s. The Borgward group created four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's grandson, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the company's first new car within over 40 years, the BX7 at this 2015 International Motor Indicate.The origins of Bremen's most significant auto-business resume 1905 with the institution in nearby Varel with the "Hansa Automobilgesellschaft" and the muse in Bremen itself associated with "Namag", maker of the Lloyd auto. 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 with the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand this scope of his automotive business, and he took control than it.
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The primary "automobile" Carl Borgward designed was the 1924 Blitzkarren (lightning cart), a sort of small 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 purchased for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the even now three wheeler timber presented synthetic leather bodied 5 or even 7 hp Goliath Founder. Borgward turned his care about the other businesses and also led the development from the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 in addition to in 1939 the brand was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from organizations he had acquired in the past to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business during a period of austerity and rationing. For many purposes the firms would be run being a single entity, but in a business operated by a man to whom delegation didn't come naturally the growth of legal entities even so added unhelpful layers of complexity from the 1950s and encouraged a broadening on the range which finally proved financially unsustainable while using the sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.On the list of 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 widely used model and remained in production to the life of the business. 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 to become successful Formula Two power unit (that has been also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such since air suspension and computerized transmission, the company had trouble competing out there. While larger companies including Opel and VW took good thing about economies of scale in addition to kept their prices low to achieve market share, Borgward's cost structure was even greater than necessary for its size, as it basically managed as four tiny independent companies and not implemented such basic cost reduction strategies as mutual development and parts sharing relating to the company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced as a water-cooled boxer with front wheel drive, but plagued with problems like 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 pushed into liquidation by creditors. Carl Borgward died inside July 1963, still insisting the company were being technically solvent. This proved to be true inside the sense that after your creditors were paid in full, there was still four. 5 million Marks left from the business.
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Reviews of difficulties at Borgward surfaced in a article that appeared within Germany's leading news newspaper, “Der Spiegel” on fourteen 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 small business approach, and included many with the arguments later advanced to explain or justify the businesses demise. The widest range regarding cars from any producer in Germany, produced by three until eventually recently operationally autonomous firms (Borgward, Goliath and Lloyd) seemed to be supporting a turnover of only 650 million Grades, placing the overall sales value in the combined Borgward auto corporations only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation connected with new and modified types featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") presented rise to components which too often did not work, broke down or fell into apart, resulting in massive payments for pre-delivery remediation and/or publish delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article was not the only serious general public criticism targeting Borgward at this time: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild paper and in television reviews. Critical media commentaries likewise appeared concerning large loans towards the Borgward Group provided through the local Landesbank.It is apparent how the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses for instance auto manufacturing use his or her expensive machines and tools most efficiently when 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 throughout Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was higher than usual, reflecting ambitious growth ideas, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered because of the North American dealers with 1960 (and in the 12, 000 delivered to these individuals) 6, 000 might have to become taken back following a slump in Us demand. (Borgward was not the only European auto maker hit with a North American slump in demand for imported cars in the course of 1960. In the same season two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached your banker for a further just one million Marks of credit, the loan to be backed by the guarantee from the Bremen local government which initially the Bremen senators opted for provide. However, following the flood associated with critical press comment the senators withdrew their guarantee. 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 in a very still hostile media, Borgward agreed to the senate’s terms on 5 February 1961, thereby averting the bankruptcy in the business.The Bremen Senate additionally insisted on appointing its own nominee as chairman in the company’s supervisory board. The man they chose was Johannes Semler who reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice towards breadth of Semler’s occupation. He had studied legislations at university and worked initially like a lawyer. The scion of a respected Hamburg political family, in 1945 he received himself been a founding person in the centre-right CSU party, and was a member of the Bundestag between 1950 and also 1953. Despite his Hamburg beginning, Semler was by these times based in Munich, with a network of contacts inside the Bavarian establishment that almost certainly included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position inside Bizone. The appointment of Johannes Semler as the representative of the Bremen senators to help chair the Borgward supervisory panel would, in retrospect, contribute to the debate that followed the Borgward bankruptcy.
In 28 July 1961 Semler, as Chairman of this 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 the business enterprise to continue to trade while as well protecting the interests involving creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his very own, never had any intent of allowing the Borgward auto-businesses to help survive.
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