Borgward can be 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 developed four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grandson, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the company's first new car with over 40 years, the BX7 at the actual 2015 International Motor Indicate.The origins of Bremen's most significant auto-business get back to 1905 with the business in nearby Varel from the "Hansa Automobilgesellschaft" and the muse in Bremen itself involving "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economic situation then confronting Germany, the business failed to prosper and because of the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand the scope of his auto business, and he took control than it.
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The very first "automobile" Carl Borgward created was the 1924 Blitzkarren (super cart), a sort of small three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success 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 director of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the nevertheless three wheeler timber framed synthetic leather bodied 5 or even 7 hp Goliath Founder. Borgward turned his awareness of the other businesses as well as led the development in 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 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 corporations 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 at any given time of austerity and rationing. For many purposes the lenders would be run to be a single entity, but in a business operated with a man to whom delegation didn't come naturally the spreading of legal entities nonetheless added unhelpful layers of complexity from the 1950s and encouraged a broadening on the range which eventually proved financially unsustainable while using sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.Among the top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most widely used model and remained in production for the life of the firm. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (that is also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such since air suspension and intelligent transmission, the company had trouble competing available. While larger companies such as 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 size, as it basically controlled as four tiny independent companies and never implemented such basic cost reduction strategies as articulation development and parts sharing between your company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced as a water-cooled boxer with entry wheel drive, but plagued with problems for example water leakage and gearbox errors. Lloyd lost money on the car even though it was more expensive when compared with its direct competitors.In 1961, the company was pressured into liquidation by creditors. Carl Borgward died within July 1963, still insisting the company were being technically solvent. This proved to be true in the sense that after your creditors were paid completely, there was still several. 5 million Marks remaining from the business.
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Stories of difficulties at Borgward surfaced within the article that appeared with Germany's leading news mag, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly vital of Carl Borgward's small business approach, and included many with the arguments later advanced to go into detail or justify the business's demise. The widest range connected with cars from any maker in Germany, produced by three until finally recently operationally autonomous organizations (Borgward, Goliath and Lloyd) ended up being supporting a turnover involving only 650 million Represents, placing the overall sales value through the combined Borgward auto firms only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation connected with new and modified models 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 into apart, resulting in massive charges for pre-delivery remediation and/or submit delivery warranty work that found their made use of to the company.The December 1960 Spiegel article wasn't the only serious community criticism targeting Borgward right now: suddenly stridently negative (in the event that more succinct) comments also turned up in the influential mass-market Bild magazine and in television reports. Critical media commentaries also appeared concerning large loans towards Borgward Group provided through the local Landesbank.It is apparent how the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses for example 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 from the 1950s/60s was more seasonal than today, with sales diminishing within Winter, then peaking in early summer months: Borgward’s inventory of unsold cars at the end of 1960 was greater than usual, reflecting ambitious growth options, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered through the North American dealers with 1960 (and of the 12, 000 delivered to them) 6, 000 might have to be taken back following a slump in North american demand. (Borgward was not really the only European auto maker hit by the North American slump sought after 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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By the end of December 1960 Borgward approached the bank for a further 1 million Marks of credit rating, 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 of critical press comment the particular senators withdrew their ensure. They now required Carl Borgward to pledge the business itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported in a very still hostile media, Borgward agreed to the senate’s terms on 4 February 1961, thereby averting the bankruptcy from the business.The Bremen Senate additionally insisted on appointing its own nominee as chairman on the company’s supervisory board. The man they select was Johannes Semler with whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice to the breadth of Semler’s vocation. He had studied rules at university and worked initially like a lawyer. The scion of a top Hamburg political family, in 1945 he acquired himself been a founding member of the centre-right CSU bash, and was a member of the Bundestag between 1950 in addition to 1953. Despite his Hamburg sources, Semler was by on this occasion based in Munich, with a network of contacts inside the Bavarian establishment that likely included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position inside Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators to help chair the Borgward supervisory panel would, in retrospect, contribute to the conflict that followed the Borgward a bankruptcy proceeding.
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With 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 for your establishment of a “Vergleichsverfahren”, which would have provided to get a court sanctioned scheme of arrangement enabling the organization to continue to trade while while doing so protecting the interests associated with creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his own, never had any intent of allowing the Borgward auto-businesses to help survive.
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