Borgward is usually an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in your 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 partner Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the business's first new car with over 40 years, the BX7 at your 2015 International Motor Display.The origins of Bremen's most significant auto-business get back on 1905 with the place in nearby Varel with the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself associated with "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and by the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the particular scope of his automotive business, and he took control than it.
The primary "automobile" Carl Borgward intended was the 1924 Blitzkarren (turbo cart), a sort of small three-wheeled van with two 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 some of them for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the however three wheeler timber presented synthetic leather bodied 5 as well as 7 hp Goliath Leading. Borgward turned his attention to the other businesses in addition to led the development with the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and in 1939 the label was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from corporations he had acquired over the years to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business at the same time of austerity and rationing. For many purposes the firms would be run to be a single entity, but in a business operated by way of man to whom delegation wouldn't come naturally the spreading of legal entities nevertheless added unhelpful layers of complexity over the 1950s and encouraged a broadening in the range which ultimately proved financially unsustainable with the sales volumes achievable. In 1949 company presented 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 began in 1954. The Isabella would become Borgward's most favored model and remained in production for that life of the firm. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers within the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (which has been also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such since air suspension and automated transmission, the company had trouble competing out there. While larger companies like Opel and VW took benefit of economies of scale as well as kept their prices low to gain market share, Borgward's cost structure was even above necessary for its sizing, as it basically run as four tiny independent companies and do not implemented such basic cost reduction strategies as joint development and parts sharing involving the company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced as being a water-cooled boxer with entry wheel drive, but plagued with problems for instance water leakage and gearbox secrets. Lloyd lost money on the car though it was more expensive in comparison with its direct competitors.In 1961, the company was required into liquidation by creditors. Carl Borgward died in July 1963, still insisting the company were being technically solvent. This proved to be true within the sense that after the particular creditors were paid 100 %, there was still 4. 5 million Marks remaining from the business.
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Studies of difficulties at Borgward surfaced in the article that appeared in Germany's leading news newspaper, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly critical of Carl Borgward's enterprise approach, and included many from the arguments later advanced to spell out or justify the firm's demise. The widest range of cars from any producer in Germany, produced by three till recently operationally autonomous organizations (Borgward, Goliath and Lloyd) ended up being supporting a turnover connected with only 650 million Grades, placing the overall sales value through the combined Borgward auto corporations only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation involving new and modified products featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") presented rise to components which all too often did not work, broke down or fell into apart, resulting in massive charges for pre-delivery remediation and/or submit delivery warranty work that found their way back to the company.The December 1960 Spiegel article had not been the only serious general public criticism targeting Borgward at this time: 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 additionally appeared concerning large loans to the Borgward Group provided with the local Landesbank.It is apparent the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses like auto manufacturing use the expensive machines and tools most efficiently should they use them constantly with full capacity, but the car market in Europe within the 1950s/60s was more in season than today, with sales diminishing throughout Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars by the end of 1960 was above usual, reflecting ambitious growth options, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered from the North American dealers within 1960 (and in the 12, 000 delivered to all of them) 6, 000 might have to be taken back following a slump in Us demand. (Borgward was not the only European auto maker hit by a North American slump widely used for imported cars through 1960. In the same calendar year 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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By the end of December 1960 Borgward approached the financial institution for a further a single million Marks of credit ratings, the loan to be backed by way of a guarantee from the Bremen regional government which initially the Bremen senators decided provide. However, following the flood regarding critical press comment this senators withdrew their promise. They now required Carl Borgward to pledge the business 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 your senate’s terms on 4 February 1961, thereby averting the bankruptcy of the business.The Bremen Senate likewise insisted on appointing a nominee as chairman on the company’s supervisory board. The man they chose was Johannes Semler whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice towards the breadth of Semler’s occupation. He had studied regulation at university and worked initially to be a lawyer. The scion of a respected Hamburg political family, in 1945 he experienced himself been a founding person in the centre-right CSU bash, and was a person in the Bundestag between 1950 along with 1953. Despite his Hamburg sources, Semler was by this time based in Munich, with a network of contacts inside the Bavarian establishment that possibly included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position in the Bizone. The appointment of Johannes Semler because representative of the Bremen senators to chair the Borgward supervisory mother board would, in retrospect, contribute to the hot debate that followed the Borgward individual bankruptcy.
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Upon 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings to the establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the business to continue to trade while simultaneously protecting the interests associated with creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of their own, never had any purpose of allowing the Borgward auto-businesses to help survive.
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