Borgward can be an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in your 1960s. The Borgward group produced four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grand son, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the business's first new car with over 40 years, the BX7 at your 2015 International Motor Show.The origins of Bremen's most significant auto-business go back to 1905 with the organization in nearby Varel in the "Hansa Automobilgesellschaft" and the foundation in Bremen itself regarding "Namag", maker of the Lloyd car. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and by the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the particular scope of his auto business, and he took control than it.
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The very first "automobile" Carl Borgward developed was the 1924 Blitzkarren (turbo cart), a sort of small three-wheeled van with two hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the nevertheless three wheeler timber presented synthetic leather bodied 5 or maybe 7 hp Goliath Pioneer. Borgward turned his care about the other businesses and led the development of the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 in addition to in 1939 the identify was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from firms 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 during a period of austerity and rationing. For many purposes the lenders would be run as being a single entity, but in a business operated by way of a man to whom delegation would not come naturally the proliferation of legal entities nevertheless added unhelpful layers of complexity with the 1950s and encouraged a broadening from the range which eventually proved financially unsustainable while using sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.One of the top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's most in-demand model and remained in production for that life of the business. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (which was also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such while air suspension and automated transmission, the company had trouble competing available. While larger companies such as Opel and VW took benefit from economies of scale as well as kept their prices low to gain market share, Borgward's cost structure was even greater than necessary for its sizing, as it basically operated as four tiny independent companies and never implemented such basic expense reduction strategies as shared development and parts sharing between company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced being a water-cooled boxer with entry wheel drive, but plagued with problems such as water leakage and gearbox snags. Lloyd lost money on the car although it was more expensive as compared to its direct competitors.In 1961, the company was pressured into liquidation by creditors. Carl Borgward died inside July 1963, still insisting the company had been technically solvent. This proved to be true in the sense that after the particular creditors were paid fully, there was still 4. 5 million Marks left over from the business.
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Studies of difficulties at Borgward surfaced within an article that appeared throughout Germany's leading news publication, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly critical of Carl Borgward's organization approach, and included many with the arguments later advanced to spell out or justify the corporation's demise. The widest range associated with cars from any company in Germany, produced by three till recently operationally autonomous firms (Borgward, Goliath and Lloyd) ended up being supporting a turnover regarding only 650 million Represents, placing the overall sales value from the combined Borgward auto organizations only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation involving new and modified versions featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") offered rise to components which all too often did not work, broke down or chop down apart, resulting in massive bills for pre-delivery remediation and/or article delivery warranty work that found their in the past to the company.The December 1960 Spiegel article had not been the only serious community criticism targeting Borgward right now: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild classifieds and in television reviews. Critical media commentaries additionally appeared concerning large loans for the Borgward Group provided from the local Landesbank.It is apparent which the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses for example auto manufacturing use their particular expensive machines and tools most efficiently whenever 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 their early summer months: Borgward’s inventory of unsold cars towards the end of 1960 was higher than usual, reflecting ambitious growth programs, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered by the North American dealers throughout 1960 (and from the 12, 000 delivered to these people) 6, 000 might have to get taken back following a slump in North american demand. (Borgward was not really the only European auto maker hit with a North American slump popular for imported cars while in 1960. In the same yr two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached the lending company for a further a single million Marks of credit, 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 of critical press comment the actual senators withdrew their guarantee. They now required Carl Borgward to pledge the organization itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in the still hostile media, Borgward agreed to the senate’s terms on 5 February 1961, thereby averting the bankruptcy on 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 with whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice towards breadth of Semler’s career. He had studied rules at university and worked initially to be a lawyer. The scion of a leading Hamburg political family, in 1945 he got himself been a founding member of the centre-right CSU celebration, and was a member of the Bundestag between 1950 and 1953. Despite his Hamburg sources, Semler was by these times based in Munich, with a network of contacts within the Bavarian establishment that likely included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position inside the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators for you to chair the Borgward supervisory table would, in retrospect, contribute to the hot debate that followed the Borgward individual bankruptcy.
About 28 July 1961 Semler, as Chairman of your supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the organization to continue to trade while as well protecting the interests associated with creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his or her own, never had any goal of allowing the Borgward auto-businesses in order to survive.
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