Borgward can be an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in the actual 1960s. The Borgward group made four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's son, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the business's first new car with over 40 years, the BX7 at your 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business resume 1905 with the organization in nearby Varel on the "Hansa Automobilgesellschaft" and the muse in Bremen itself involving "Namag", maker of the Lloyd vehicle. 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 with the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand the actual scope of his car business, and he took control of computer.
The primary "automobile" Carl Borgward designed was the 1924 Blitzkarren (lightning cart), a sort of small three-wheeled van with 3 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 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 & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the nevertheless three wheeler timber presented synthetic leather bodied 5 or even 7 hp Goliath Pioneer. Borgward turned his focus on the other businesses as well as led the development in the Hansa Konsul. In February 1937, there came the brand-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 continued in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from organizations he had acquired in the past to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business at a time of austerity and rationing. For many purposes the companies would be run as being a single entity, but in a business operated by way of a man to whom delegation failed to come naturally the growth of legal entities nevertheless added unhelpful layers of complexity over the 1950s and encouraged a broadening in the range which in the long run proved financially unsustainable using the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of many top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most in-demand model and remained in production for the life of the company. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers from the 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 as air suspension and automated transmission, the company had trouble competing in the marketplace. While larger companies similar to Opel and VW took good thing about economies of scale in addition to kept their prices low to achieve market share, Borgward's cost structure was even more than necessary for its sizing, as it basically run as four tiny independent companies and never implemented such basic cost reduction strategies as shared development and parts sharing between the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced like a water-cooled boxer with entry wheel drive, but plagued with problems such as water leakage and gearbox mistakes. Lloyd lost money on the car just about the most was more expensive than its direct competitors.In 1961, the company was forced into liquidation by credit card companies. Carl Borgward died in July 1963, still insisting the company was technically solvent. This proved to be true in the sense that after the particular creditors were paid 100 %, there was still 4. 5 million Marks remaining from the business.
Studies of difficulties at Borgward surfaced in a 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 with a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly important of Carl Borgward's company approach, and included many from the arguments later advanced to spellout or justify the corporation's demise. The widest range involving cars from any company in Germany, produced by three until finally recently operationally autonomous firms (Borgward, Goliath and Lloyd) was supporting a turnover connected with only 650 million Signifies, placing the overall sales value in the combined Borgward auto businesses only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation involving new and modified versions featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") gave rise to components which excessively did not work, broke down or fell into apart, resulting in massive payments for pre-delivery remediation and/or post delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article had not been the only serious open public criticism targeting Borgward at this time: suddenly stridently negative (in case more succinct) comments also resulted in in the influential mass-market Bild newspaper and in television reports. Critical media commentaries likewise appeared concerning large loans towards the Borgward Group provided because of the local Landesbank.It is apparent how the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses including auto manufacturing use their own expensive machines and tools most efficiently whenever they use them constantly on full capacity, but the car market in Europe in the 1950s/60s was more seasonal than today, with sales diminishing with Winter, then peaking in early summer months: Borgward’s inventory of unsold cars towards the end of 1960 was greater than usual, reflecting ambitious growth plans, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered with the North American dealers within 1960 (and on the 12, 000 delivered to these people) 6, 000 might have being taken back following a slump in Us demand. (Borgward was not the sole European auto maker hit by a North American slump in demand for imported cars during 1960. In the same year two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
At the conclusion of December 1960 Borgward approached the financial institution for a further one particular million Marks of credit ratings, 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 associated with critical press comment the senators withdrew their ensure. 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 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 additionally insisted on appointing a unique nominee as chairman in the company’s supervisory board. The man they chose was Johannes Semler with whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice on the breadth of Semler’s occupation. He had studied law at university and worked initially being a lawyer. The scion of a leading Hamburg political family, in 1945 he got himself been a founding member of the centre-right CSU party, and was a person in the Bundestag between 1950 along with 1953. Despite his Hamburg beginnings, Semler was by now based in Munich, with a network of contacts from the Bavarian establishment that most likely 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 because representative of the Bremen senators to be able to chair the Borgward supervisory panel would, in retrospect, contribute to the conflict that followed the Borgward bankruptcy.
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In 28 July 1961 Semler, as Chairman of this 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 to get a court sanctioned scheme of arrangement enabling the company to continue to trade while at the same time protecting the interests involving creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of her own, never had any goal of allowing the Borgward auto-businesses for you to survive.
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