Borgward is usually an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in your 1960s. The Borgward group generated four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the corporation's first new car throughout over 40 years, the BX7 at the 2015 International Motor Display.The origins of Bremen's most significant auto-business get back to 1905 with the establishment in nearby Varel in the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself of "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and because of the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand this scope of his car business, and he took control of computer.
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The first "automobile" Carl Borgward designed was the 1924 Blitzkarren (turbo cart), a sort of very small three-wheeled van with two hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the nonetheless three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Master. Borgward turned his attention to the other businesses and also led the development in the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 as well as in 1939 the identify was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from firms he had acquired over time to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase the quality 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 a man to whom delegation did not come naturally the expansion of legal entities even so added unhelpful layers of complexity with the 1950s and encouraged a broadening in the range which finally proved financially unsustainable with all the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.On the list of top engineers at Borgward coming from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most in-demand model and remained in production for that life of the firm. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these learning to be a successful Formula Two power unit (that was also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such while air suspension and intelligent transmission, the company had trouble competing in the marketplace. While larger companies similar to Opel and VW took good thing about economies of scale and kept their prices low to gain market share, Borgward's cost structure was even greater than necessary for its dimensions, as it basically controlled as four tiny independent companies and don't implemented such basic expense reduction strategies as shared development and parts sharing between the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced as a water-cooled boxer with entrance wheel drive, but plagued with problems including water leakage and gearbox snags. Lloyd lost money on the car just about the most was more expensive as compared to its direct competitors.In 1961, the company was forced into liquidation by collectors. Carl Borgward died inside July 1963, still insisting the company was technically solvent. This proved to be true from the sense that after the particular creditors were paid fully, there was still 4. 5 million Marks left over from the business.
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Stories of difficulties at Borgward surfaced within the article that appeared inside Germany's leading news newspaper, “Der Spiegel” on 18 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 entry cover. It was strongly essential of Carl Borgward's organization approach, and included many from the arguments later advanced to explain or justify the businesses demise. The widest range associated with cars from any maker in Germany, produced by three until finally recently operationally autonomous organizations (Borgward, Goliath and Lloyd) was supporting a turnover involving only 650 million Represents, placing the overall sales value in the combined Borgward auto companies only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation associated with new and modified designs featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") offered rise to components which all too often did not work, broke down or dropped apart, resulting in massive charges for pre-delivery remediation and/or publish delivery warranty work that found their long ago to the company.The December 1960 Spiegel article wasn't the only serious public criticism targeting Borgward at the moment: suddenly stridently negative (in the event 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 on the Borgward Group provided through the local Landesbank.It is apparent that the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses like auto manufacturing use their own expensive machines and tools most efficiently whenever they use them constantly from full capacity, but the car market in Europe in the 1950s/60s was more seasons than today, with sales diminishing in Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars towards the end of 1960 was beyond usual, reflecting ambitious growth programs, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered by the North American dealers inside 1960 (and with the 12, 000 delivered to these) 6, 000 might have to get taken back following a slump in American demand. (Borgward was not the one European auto maker hit with a North American slump widely used for imported cars while in 1960. In the same season two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Big apple were overcrowded with unsold Dauphines.
At the conclusion of December 1960 Borgward approached the financial institution for a further one million Marks of credit history, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators consented to provide. However, following the flood regarding critical press comment the particular senators withdrew their assurance. 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 your senate’s terms on several February 1961, thereby averting the bankruptcy with the business.The Bremen Senate additionally insisted on appointing its very own nominee as chairman from the company’s supervisory board. The man they selected was Johannes Semler with whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice towards breadth of Semler’s occupation. He had studied legislation at university and worked initially to be a lawyer. The scion of a respected Hamburg political family, in 1945 he had himself been a founding person in the centre-right CSU party, and was a member of the Bundestag between 1950 and also 1953. Despite his Hamburg sources, Semler was by these times based in Munich, with a network of contacts from the Bavarian establishment that likely included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position inside the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators to chair the Borgward supervisory aboard would, in retrospect, contribute to the conflict that followed the Borgward individual bankruptcy.
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With 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while while doing so protecting the interests associated with creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of their own, never had any objective of allowing the Borgward auto-businesses for you to survive.
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