Borgward can be an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in this 1960s. The Borgward group created 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 firm's first new car in over 40 years, the BX7 at the actual 2015 International Motor Show.The origins of Bremen's most significant auto-business get back to 1905 with the institution in nearby Varel from the "Hansa Automobilgesellschaft" and the walls in Bremen itself involving "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 status then confronting Germany, the business failed to prosper and from the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand your scope of his automobile business, and he took control of computer.
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The primary "automobile" Carl Borgward intended was the 1924 Blitzkarren (super cart), a sort of little 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 purchased for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the even now three wheeler timber presented synthetic leather bodied 5 or perhaps 7 hp Goliath Pioneer. Borgward turned his attention to the other businesses as well as 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 then the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from corporations he had acquired over time to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business at a time of austerity and rationing. For many purposes the firms would be run as being a single entity, but in a business operated by the man to whom delegation would not come naturally the spreading of legal entities nonetheless added unhelpful layers of complexity with the 1950s and encouraged a broadening with the range which eventually proved financially unsustainable while using sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.One of many 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 hottest model and remained in production for your life of the business. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that was also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such since air suspension and computerized transmission, the company had trouble competing in the market. While larger companies such as Opel and VW took selling point of economies of scale in addition to kept their prices low to get market share, Borgward's cost structure was even beyond necessary for its sizing, as it basically operated as four tiny independent companies and not implemented such basic cost reduction strategies as shared development and parts sharing involving the company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced being a water-cooled boxer with entry wheel drive, but plagued with problems for example water leakage and gearbox mistakes. Lloyd lost money on the car just about the most was more expensive compared to its direct competitors.In 1961, the company was pushed into liquidation by collectors. Carl Borgward died within July 1963, still insisting the company ended up technically solvent. This proved to be true in the sense that after the actual creditors were paid 100 %, there was still 5. 5 million Marks remaining from the business.
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Studies of difficulties at Borgward surfaced in an article that appeared within Germany's leading news newspaper, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly essential of Carl Borgward's small business approach, and included many with the arguments later advanced to explain or justify the businesses demise. The widest range of cars from any maker in Germany, produced by three right up until recently operationally autonomous companies (Borgward, Goliath and Lloyd) ended up being supporting a turnover regarding only 650 million Grades, placing the overall sales value from your combined Borgward auto organizations 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 models featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") afforded rise to components which many times did not work, broke down or droped apart, resulting in massive bills for pre-delivery remediation and/or submit delivery warranty work that found their made use of to the company.The December 1960 Spiegel article hasn't been the only serious public criticism targeting Borgward at the moment: suddenly stridently negative (in the event that more succinct) comments also turned up in the influential mass-market Bild newspaper and in television stories. Critical media commentaries also appeared concerning large loans on the Borgward Group provided by the local Landesbank.It is apparent that the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses for example auto manufacturing use their own expensive machines and tools most efficiently when they use them constantly with full capacity, but the car market in Europe from the 1950s/60s was more seasonal than today, with sales diminishing in Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars at the end of 1960 was greater than usual, reflecting ambitious growth plans, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered from the North American dealers with 1960 (and of the 12, 000 delivered to these individuals) 6, 000 might have to get taken back following a slump in United states demand. (Borgward was not the only European auto maker hit with a North American slump popular for imported cars throughout 1960. In the same yr two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
At the conclusion of December 1960 Borgward approached the lender for a further one million Marks of credit, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators consented to provide. However, following the flood connected with critical press comment the particular senators withdrew their ensure. 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 inside a still hostile media, Borgward agreed to the particular senate’s terms on four February 1961, thereby averting the bankruptcy with the business.The Bremen Senate likewise insisted on appointing its own nominee as chairman from the company’s supervisory board. The man they chose was Johannes Semler which reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice towards the breadth of Semler’s career. He had studied law at university and worked initially as a lawyer. The scion of a respected Hamburg political family, in 1945 he experienced himself been a founding person in the centre-right CSU party, and was a person in the Bundestag between 1950 in addition to 1953. Despite his Hamburg beginning, Semler was by this time based in Munich, with a network of contacts in the Bavarian establishment that almost certainly included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position inside Bizone. The appointment of Johannes Semler because representative of the Bremen senators for you to chair the Borgward supervisory board would, in retrospect, contribute to the debate that followed the Borgward individual bankruptcy.
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In 28 July 1961 Semler, as Chairman of your 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 to get a court sanctioned scheme of arrangement enabling the company to continue to trade while concurrently protecting the interests regarding creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of her own, never had any intent of allowing the Borgward auto-businesses in order to survive.
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