Borgward is usually an automobile manufacturer originally founded 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 autos: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's son, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the business's first new car within over 40 years, the BX7 at this 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business get back on 1905 with the place in nearby Varel of the "Hansa Automobilgesellschaft" and the walls in Bremen itself involving "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and with the late 1920s faced 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 actual scope of his auto business, and he took control than it.
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The primary "automobile" Carl Borgward intended was the 1924 Blitzkarren (lightning cart), a sort of teeny three-wheeled van with 2 hp (1. 5 kW), which was an enormous success available 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 representative of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Corp. " 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 Leader. Borgward turned his focus on the other businesses in addition to led the development with the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 as well as in 1939 the label was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from businesses he had acquired over time to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business during a period of austerity and rationing. For many purposes the lenders would be run like a single entity, but in a business operated with a man to whom delegation didn't come naturally the expansion of legal entities nevertheless added unhelpful layers of complexity throughout the 1950s and encouraged a broadening with the range which eventually proved financially unsustainable while using sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.One of the top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella commenced in 1954. The Isabella would become Borgward's most favored model and remained in production with the life of the firm. In 1960 the Borgward P100 ended up being 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 transforming into a successful Formula Two power unit (which was also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such because air suspension and programmed transmission, the company had trouble competing in the marketplace. While larger companies similar to Opel and VW took selling point of economies of scale and also kept their prices low to find market share, Borgward's cost structure was even more than necessary for its sizing, as it basically managed as four tiny independent companies and never implemented such basic cost reduction strategies as combined development and parts sharing between company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced to be a water-cooled boxer with top wheel drive, but plagued with problems including water leakage and gearbox errors. Lloyd lost money on the car community . was more expensive when compared with its direct competitors.In 1961, the company was pushed into liquidation by lenders. Carl Borgward died throughout July 1963, still insisting the company were being technically solvent. This proved to be true within the sense that after your creditors were paid entirely, there was still 4. 5 million Marks left over from the business.
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Reviews of difficulties at Borgward surfaced in an article that appeared inside Germany's leading news journal, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly important of Carl Borgward's business approach, and included many with the arguments later advanced to spell out or justify the corporation's demise. The widest range of cars from any producer in Germany, produced by three till recently operationally autonomous corporations (Borgward, Goliath and Lloyd) has been supporting a turnover of only 650 million Marks, placing the overall sales value from the combined Borgward auto firms only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation associated with new and modified models featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") provided rise to components which excessively did not work, broke down or fell apart, resulting in massive payments for pre-delivery remediation and/or publish delivery warranty work that found their long ago to the company.The December 1960 Spiegel article hasn't been the only serious community criticism targeting Borgward currently: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild newspapers and in television stories. Critical media commentaries furthermore appeared concerning large loans to the Borgward Group provided through the local Landesbank.It is apparent that the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses including auto manufacturing use their particular expensive machines and tools most efficiently when they use them constantly from full capacity, but the car market in Europe inside the 1950s/60s was more temporary than today, with sales diminishing inside Winter, then peaking in early summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was more than usual, reflecting ambitious growth strategies, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered with the North American dealers inside 1960 (and on the 12, 000 delivered to all of them) 6, 000 might have to be taken back following a slump in North american demand. (Borgward was not the only real European auto maker hit by a North American slump in demand for imported cars while in 1960. In the same yr two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
Borgward has sold 4,000 BX7s in China so far, and another 6,000 have
At the end of December 1960 Borgward approached the lender for a further one million Marks of credit history, the loan to be backed by way of a guarantee from the Bremen local government which initially the Bremen senators decided provide. However, following the flood regarding 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 a still hostile media, Borgward agreed to the particular senate’s terms on several February 1961, thereby averting the bankruptcy on the business.The Bremen Senate likewise insisted on appointing its own nominee as chairman with the company’s supervisory board. The man they selected was Johannes Semler whom reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice to the breadth of Semler’s vocation. He had studied law at university and worked initially like a lawyer. The scion of a number one Hamburg political family, in 1945 he had himself been a founding person in the centre-right CSU get together, and was a member of the Bundestag between 1950 as well as 1953. Despite his Hamburg sources, Semler was by this time around based in Munich, with a network of contacts in the Bavarian establishment that possibly included fellow CSU politician and also 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 aboard would, in retrospect, contribute to the hot debate that followed the Borgward bankruptcy.
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About 28 July 1961 Semler, as Chairman of this supervisory board joined the directors on 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 at the same time protecting the interests involving creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of his own, never had any intent of allowing the Borgward auto-businesses to be able to survive.
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