Borgward is an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the particular 1960s. The Borgward group produced four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's grandson, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the business's first new car inside over 40 years, the BX7 at the 2015 International Motor Show.The origins of Bremen's most significant auto-business get back on 1905 with the establishment in nearby Varel with the "Hansa Automobilgesellschaft" and the foundation in Bremen itself associated with "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis 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 an opportunity greatly to expand the particular scope of his automotive business, and he took control from it.
The primary "automobile" Carl Borgward designed was the 1924 Blitzkarren (turbo cart), a sort of little three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success on the market gap it filled. Traders with a small budget ordered 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 & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the still three wheeler timber framed synthetic leather bodied 5 as well as 7 hp Goliath Founder. Borgward turned his attention to the other businesses as well as led the development of the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 and also in 1939 the label was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from companies he had acquired in recent times to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business during a period of austerity and rationing. For many purposes the lenders would be run as a single entity, but in a business operated by way of a man to whom delegation didn't come naturally the growth of legal entities on the other hand added unhelpful layers of complexity from the 1950s and encouraged a broadening with the range which in the end proved financially unsustainable while using the sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.Among the top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's hottest model and remained in production for your life of the firm. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers from the late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (which has been also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such since air suspension and automatic transmission, the company had trouble competing in the market. While larger companies just like Opel and VW took good thing about economies of scale and kept their prices low to find market share, Borgward's cost structure was even more than necessary for its size, as it basically run as four tiny independent companies and don't implemented such basic cost reduction strategies as shared development and parts sharing relating to the company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced as a water-cooled boxer with top wheel drive, but plagued with problems for example water leakage and gearbox glitches. Lloyd lost money on the car even though it was more expensive in comparison with its direct competitors.In 1961, the company was pushed into liquidation by collectors. Carl Borgward died inside July 1963, still insisting the company had been technically solvent. This proved to be true within the sense that after your creditors were paid completely, there was still some. 5 million Marks left from the business.
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Accounts of difficulties at Borgward surfaced in the article that appeared in Germany's leading news newspaper, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly crucial of Carl Borgward's business approach, and included many in the arguments later advanced to go into detail or justify the corporation's demise. The widest range associated with cars from any producer in Germany, produced by three right up until recently operationally autonomous companies (Borgward, Goliath and Lloyd) ended up being supporting a turnover of only 650 million Represents, placing the overall sales value in the combined Borgward auto organizations only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation connected with new and modified types featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") gave rise to components which many times did not work, broke down or dropped apart, resulting in massive expenses for pre-delivery remediation and/or write-up delivery warranty work that found their in the past to the company.The December 1960 Spiegel article had not been the only serious public criticism targeting Borgward at the moment: suddenly stridently negative (in the event that more succinct) comments also turned up in the influential mass-market Bild newspaper and in television stories. Critical media commentaries in addition appeared concerning large loans towards Borgward Group provided from the local Landesbank.It is apparent the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses including auto manufacturing use their own expensive machines and tools most efficiently if they use them constantly in full capacity, but the car market in Europe within the 1950s/60s was more in season than today, with sales diminishing with Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was more than usual, reflecting ambitious growth programs, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered because of the North American dealers inside 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 really the only European auto maker hit by a North American slump sought after for imported cars during 1960. In the same 12 months two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached the lender for a further one particular million Marks of credit score, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators agreed to provide. However, following the flood regarding critical press comment your senators withdrew their promise. They now required Carl Borgward to pledge the corporation itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported in the still hostile media, Borgward agreed to this senate’s terms on 4 February 1961, thereby averting the bankruptcy with the business.The Bremen Senate also insisted on appointing its own nominee as chairman of the company’s supervisory board. The man they decided was Johannes Semler whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice on the breadth of Semler’s profession. He had studied regulation at university and worked initially being a lawyer. The scion of a leading Hamburg political family, in 1945 he experienced himself been a founding member of the centre-right CSU celebration, and was a person in the Bundestag between 1950 and 1953. Despite his Hamburg beginnings, Semler was by this time around based in Munich, with a network of contacts within the Bavarian establishment that probably included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position from the Bizone. The appointment of Johannes Semler because representative of the Bremen senators for you to chair the Borgward supervisory panel would, in retrospect, contribute to the hot debate that followed the Borgward chapter 7.
On 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 your establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the business to continue to trade while as well protecting the interests involving creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of his or her own, never had any goal of allowing the Borgward auto-businesses for you to survive.
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