Borgward is an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in this 1960s. The Borgward group produced four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the business's first new car within over 40 years, the BX7 at the 2015 International Motor Show.The origins of Bremen's most significant auto-business return to 1905 with the organization in nearby Varel with the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself regarding "Namag", maker of the Lloyd car or truck. 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 because of the late 1920s faced chapter 7. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand your scope of his vehicle business, and he took control of the usb ports.
The very first "automobile" Carl Borgward designed was the 1924 Blitzkarren (lightning cart), a sort of small 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 quite a few for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the even now three wheeler timber framed synthetic leather bodied 5 or maybe 7 hp Goliath Founder. Borgward turned his care about the other businesses as well as led the development in 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 some of the brand names from corporations he had acquired through the years to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business at the same time of austerity and rationing. For many purposes the firms would be run being a single entity, but in a business operated by way of a man to whom delegation wouldn't come naturally the growth of legal entities however added unhelpful layers of complexity through the 1950s and encouraged a broadening of the range which ultimately 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 started in 1954. The Isabella would become Borgward's most popular model and remained in production for the life of the organization. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers in the late 1950s, with the 16-valve engine from these being 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 because air suspension and computerized transmission, the company had trouble competing out there. While larger companies like Opel and VW took good thing about economies of scale as well as kept their prices low to achieve market share, Borgward's cost structure was even higher than necessary for its dimension, as it basically handled as four tiny independent companies and never implemented such basic expense reduction strategies as mutual development and parts sharing between company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced as being a water-cooled boxer with top wheel drive, but plagued with problems for instance water leakage and gearbox glitches. Lloyd lost money on the car even though it was more expensive than its direct competitors.In 1961, the company was required into liquidation by collectors. Carl Borgward died throughout July 1963, still insisting the company have been technically solvent. This proved to be true from the sense that after your creditors were paid fully, there was still 5. 5 million Marks left from the business.
Accounts of difficulties at Borgward surfaced in the article that appeared with Germany's leading news newspaper, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly essential of Carl Borgward's small business approach, and included many of the arguments later advanced to go into detail or justify the company's demise. The widest range regarding cars from any producer in Germany, produced by three until eventually recently operationally autonomous corporations (Borgward, Goliath and Lloyd) seemed to be supporting a turnover involving only 650 million Signifies, placing the overall sales value in the combined Borgward auto organizations only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation associated with new and modified designs featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") gave rise to components which too often 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 made use of to the company.The December 1960 Spiegel article had not been the only serious community criticism targeting Borgward presently: suddenly stridently negative (when more succinct) comments also turned up in the influential mass-market Bild newspaper and in television accounts. Critical media commentaries additionally appeared concerning large loans on the Borgward Group provided because of the local Landesbank.It is apparent that the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses such as auto manufacturing use their expensive machines and tools most efficiently whenever they use them constantly on full capacity, but the car market in Europe within the 1950s/60s was more seasonal than today, with sales diminishing throughout Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was more than usual, reflecting ambitious growth options, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered with the North American dealers with 1960 (and with the 12, 000 delivered to these individuals) 6, 000 might have to become taken back following a slump in Us demand. (Borgward was not really the only European auto maker hit by way of a North American slump successful for imported cars in the course of 1960. In the same yr two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached the lending company for a further 1 million Marks of credit history, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators decided provide. However, following the flood of critical press comment the actual senators withdrew their ensure. 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 your senate’s terms on 5 February 1961, thereby averting the bankruptcy in the business.The Bremen Senate additionally insisted on appointing a nominee as chairman on the company’s supervisory board. The man they select was Johannes Semler which reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice to the breadth of Semler’s profession. He had studied legislations at university and worked initially as a lawyer. The scion of a leading Hamburg political family, in 1945 he received himself been a founding member of the centre-right CSU get together, and was a member of the Bundestag between 1950 and 1953. Despite his Hamburg roots, Semler was by on this occasion based in Munich, with a network of contacts within the Bavarian establishment that most likely included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position inside Bizone. The appointment of Johannes Semler since the representative of the Bremen senators to be able to chair the Borgward supervisory table would, in retrospect, contribute to the debate that followed the Borgward personal bankruptcy.
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With 28 July 1961 Semler, as Chairman of your supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the company to continue to trade while concurrently protecting the interests involving creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of their own, never had any purpose of allowing the Borgward auto-businesses for you to survive.
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