Borgward is surely an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the 1960s. The Borgward group generated four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the businesses first new car in over 40 years, the BX7 at the particular 2015 International Motor Present.The origins of Bremen's most significant auto-business return to 1905 with the institution in nearby Varel in the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself regarding "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 financial situation then confronting Germany, the business failed to prosper and from the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity 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 made was the 1924 Blitzkarren (turbo cart), a sort of small three-wheeled van with only two hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the nevertheless three wheeler timber framed synthetic leather bodied 5 or 7 hp Goliath Master. Borgward turned his attention to the other businesses along with led the development from the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and in 1939 the title was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from businesses he had acquired through the years to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business at any given time of austerity and rationing. For many purposes the businesses would be run 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 even so added unhelpful layers of complexity through the 1950s and encouraged a broadening from the range which in the end proved financially unsustainable while using sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of several top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's most favored model and remained in production to the life of the business. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers in the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that was also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such while air suspension and automated transmission, the company had trouble competing out there. While larger companies similar to Opel and VW took advantage of economies of scale and also kept their prices low to realize market share, Borgward's cost structure was even more than necessary for its measurement, as it basically operated as four tiny independent companies and never implemented such basic cost reduction strategies as joint development and parts sharing between company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced like a water-cooled boxer with top wheel drive, but plagued with problems for instance water leakage and gearbox secrets. Lloyd lost money on the car just about the most was more expensive than its direct competitors.In 1961, the company was compelled into liquidation by lenders. Carl Borgward died throughout July 1963, still insisting the company ended up technically solvent. This proved to be true from the sense that after the actual creditors were paid fully, there was still four. 5 million Marks left from the business.
Reports of difficulties at Borgward surfaced within an article that appeared within Germany's leading news publication, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly crucial of Carl Borgward's organization approach, and included many of the arguments later advanced to describe or justify the businesses demise. The widest range of cars from any supplier in Germany, produced by three until finally recently operationally autonomous organizations (Borgward, Goliath and Lloyd) ended up being supporting a turnover regarding only 650 million Signifies, placing the overall sales value on the combined Borgward auto firms only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation of new and modified products featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") gave rise to components which many times did not work, broke down or fell into apart, resulting in massive bills for pre-delivery remediation and/or post delivery warranty work that found their way back to the company.The December 1960 Spiegel article has not been the only serious community criticism targeting Borgward at the moment: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild classifieds and in television reviews. Critical media commentaries in addition appeared concerning large loans for 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 like auto manufacturing use his or her expensive machines and tools most efficiently whenever they use them constantly from full capacity, but the car market in Europe within the 1950s/60s was more seasons than today, with sales diminishing within Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars by the end of 1960 was beyond usual, reflecting ambitious growth programs, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered through the North American dealers in 1960 (and of the 12, 000 delivered to them) 6, 000 might have being taken back following a slump in Us demand. (Borgward was not the only real European auto maker hit by way of a North American slump widely used for imported cars through 1960. In the same 12 months two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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At the conclusion of December 1960 Borgward approached the lending company for a further one million Marks of credit, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators decided to provide. However, following the flood associated with critical press comment this senators withdrew their assurance. They now required Carl Borgward to pledge this company 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 4 February 1961, thereby averting the bankruptcy in the business.The Bremen Senate also insisted on appointing its very own nominee as chairman on the company’s supervisory board. The man they chose was Johannes Semler whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice on the breadth of Semler’s vocation. He had studied legislations at university and worked initially to be a lawyer. The scion of a number one Hamburg political family, in 1945 he received himself been a founding person in the centre-right CSU get together, and was a person in the Bundestag between 1950 along with 1953. Despite his Hamburg origins, Semler was by this time around based in Munich, with a network of contacts inside Bavarian establishment that almost certainly included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position inside Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators for you to chair the Borgward supervisory table would, in retrospect, contribute to the debate that followed the Borgward individual bankruptcy.
Upon 28 July 1961 Semler, as Chairman of your supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling this company to continue to trade while while doing so protecting the interests involving creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of her own, never had any intent of allowing the Borgward auto-businesses to help survive.
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