Borgward is an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in the particular 1960s. The Borgward group developed four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grand son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the businesses first new car within over 40 years, the BX7 at this 2015 International Motor Display.The origins of Bremen's most significant auto-business get back on 1905 with the business in nearby Varel in the "Hansa Automobilgesellschaft" and the walls in Bremen itself of "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economic situation then confronting Germany, the business failed to prosper and with the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the particular scope of his auto business, and he took control than it.
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The first "automobile" Carl Borgward made was the 1924 Blitzkarren (super cart), a sort of teeny three-wheeled van with 2 hp (1. 5 kW), which was an enormous success already in the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 or even 7 hp Goliath Leading. Borgward turned his attention to the other businesses along with led the development of the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 as well as in 1939 the title was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from corporations he had acquired through the years to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business each time of austerity and rationing. For many purposes the firms would be run to be 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 nevertheless added unhelpful layers of complexity throughout the 1950s and encouraged a broadening of the range which in the long run proved financially unsustainable with all the sales volumes achievable. In 1949 company shown 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 commenced in 1954. The Isabella would become Borgward's most favored model and remained in production for your life of the organization. In 1960 the Borgward P100 was 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 inside German market such seeing that air suspension and automatic transmission, the company had trouble competing out there. While larger companies such as Opel and VW took benefit of economies of scale along with kept their prices low to get market share, Borgward's cost structure was even higher than necessary for its dimensions, as it basically operated as four tiny independent companies and do not implemented such basic price reduction strategies as shared development and parts sharing between the company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced like a water-cooled boxer with entrance wheel drive, but plagued with problems such as water leakage and gearbox errors. Lloyd lost money on the car just about the most was more expensive in comparison with its direct competitors.In 1961, the company was pushed into liquidation by lenders. Carl Borgward died with July 1963, still insisting the company have been technically solvent. This proved to be true inside the sense that after this creditors were paid completely, there was still 4. 5 million Marks left over from the business.
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Studies of difficulties at Borgward surfaced in a article that appeared within Germany's leading news publication, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly essential of Carl Borgward's organization approach, and included many in the arguments later advanced to spell out or justify the company's demise. The widest range regarding cars from any company in Germany, produced by three right up until recently operationally autonomous businesses (Borgward, Goliath and Lloyd) has been supporting a turnover regarding only 650 million Marks, placing the overall sales value from the combined Borgward auto businesses only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation regarding new and modified products featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") offered rise to components which excessively did not work, broke down or droped apart, resulting in massive payments for pre-delivery remediation and/or publish delivery warranty work that found their in the past to the company.The December 1960 Spiegel article wasn't the only serious open criticism targeting Borgward at this time: suddenly stridently negative (in the event more succinct) comments also turned up in the influential mass-market Bild classifieds and in television stories. Critical media commentaries likewise appeared concerning large loans towards the Borgward Group provided from 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 their own expensive machines and tools most efficiently if they use them constantly with full capacity, but the car market in Europe from the 1950s/60s was more temporary than today, with sales diminishing within Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars at the end of 1960 was beyond usual, reflecting ambitious growth options, most obviously in respect of the united states 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 of the 12, 000 delivered to them) 6, 000 might have to get taken back following a slump in United states demand. (Borgward was not really the only European auto maker hit with a North American slump widely used for imported cars throughout 1960. In the same yr two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached the lending company for a further just one million Marks of credit history, the loan to be backed by way of a guarantee from the Bremen regional government which initially the Bremen senators decided to provide. However, following the flood connected with critical press comment your senators withdrew their guarantee. They now required Carl Borgward to pledge the corporation itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in a very still hostile media, Borgward agreed to your senate’s terms on four February 1961, thereby averting the bankruptcy with the business.The Bremen Senate also insisted on appointing its nominee as chairman in the company’s supervisory board. The man they chose was Johannes Semler with whom reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice on the breadth of Semler’s career. He had studied regulation at university and worked initially as a lawyer. The scion of a leading Hamburg political family, in 1945 he had 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 sources, Semler was by on this occasion based in Munich, with a network of contacts inside Bavarian establishment that possibly included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position within the Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators to be able to chair the Borgward supervisory panel would, in retrospect, contribute to the hot debate that followed the Borgward individual bankruptcy.
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Upon 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings to the establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the business to continue to trade while at the same time protecting the interests connected with creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his or her own, never had any intention of allowing the Borgward auto-businesses to help survive.
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