Borgward can be an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in your 1960s. The Borgward group developed four brands of cars: 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 particular 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business get back on 1905 with the place in nearby Varel on the "Hansa Automobilgesellschaft" and the foundation in Bremen itself regarding "Namag", maker of the Lloyd car. These two businesses merged in 1914 to make 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 individual bankruptcy. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand this scope of his car business, and he took control of computer.
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The primary "automobile" Carl Borgward created was the 1924 Blitzkarren (turbo cart), a sort of tiny three-wheeled van with 2 hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having had the opportunity 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 Founder. Borgward turned his attention to the other businesses along with led the development from the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 and also in 1939 the brand was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from organizations he had acquired over the years to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business at any given time of austerity and rationing. For many purposes the firms would be run as being a single entity, but in a business operated by way of man to whom delegation did not come naturally the proliferation of legal entities on the other hand added unhelpful layers of complexity through the 1950s and encouraged a broadening on the range which eventually proved financially unsustainable using the sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.Among the 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 hottest model and remained in production for that life of the corporation. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that is also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such as air suspension and automated transmission, the company had trouble competing out there. While larger companies including Opel and VW took good thing about economies of scale and kept their prices low to get market share, Borgward's cost structure was even above necessary for its measurement, as it basically controlled as four tiny independent companies and never implemented such basic cost reduction strategies as combined development and parts sharing between your company's makes. Borgward suffered quality problems at the same time. 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 mistakes. Lloyd lost money on the car though it was more expensive as compared to its direct competitors.In 1961, the company was pushed into liquidation by creditors. Carl Borgward died in July 1963, still insisting the company were being technically solvent. This proved to be true inside the sense that after your creditors were paid in full, there was still several. 5 million Marks left from the business.
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Reports of difficulties at Borgward surfaced in an article that appeared within Germany's leading news publication, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly essential of Carl Borgward's enterprise approach, and included many with the arguments later advanced to spell out or justify the business's demise. The widest range of cars from any manufacturer in Germany, produced by three till recently operationally autonomous corporations (Borgward, Goliath and Lloyd) was supporting a turnover regarding only 650 million Marks, placing the overall sales value through the combined Borgward auto firms only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation regarding new and modified designs featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") gave rise to components which all too often did not work, broke down or dropped apart, resulting in massive bills for pre-delivery remediation and/or post delivery warranty work that found their long ago to the company.The December 1960 Spiegel article hasn't been the only serious general public criticism targeting Borgward right now: suddenly stridently negative (in the event that more succinct) comments also turned up in the influential mass-market Bild classifieds and in television studies. Critical media commentaries furthermore appeared concerning large loans towards Borgward Group provided with the local Landesbank.It is apparent how the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses such as auto manufacturing use their particular expensive machines and tools most efficiently when they use them constantly from full capacity, but the car market in Europe inside 1950s/60s was more temporary than today, with sales diminishing within Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was greater than usual, reflecting ambitious growth strategies, 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 inside 1960 (and of the 12, 000 delivered to these individuals) 6, 000 might have to be taken back following a slump in Us demand. (Borgward was not the one European auto maker hit by way of a North American slump widely used for imported cars during 1960. In the same year two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
Right at the end of December 1960 Borgward approached the financial institution for a further 1 million Marks of credit rating, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators opted for provide. However, following the flood connected with critical press comment your senators withdrew their assure. They now required Carl Borgward to pledge this company 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 from the business.The Bremen Senate also insisted on appointing a nominee as chairman on the company’s supervisory board. The man they select was Johannes Semler who reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice to the breadth of Semler’s vocation. He had studied regulation at university and worked initially like a lawyer. The scion of a leading Hamburg political family, in 1945 he acquired himself been a founding person in the centre-right CSU celebration, and was a member of the Bundestag between 1950 and also 1953. Despite his Hamburg origins, Semler was by this time based in Munich, with a network of contacts within the Bavarian establishment that most likely 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 the representative of the Bremen senators to help chair the Borgward supervisory mother board would, in retrospect, contribute to the debate that followed the Borgward bankruptcy.
About 28 July 1961 Semler, as Chairman of this supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling this company to continue to trade while as well protecting the interests of creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of her own, never had any objective of allowing the Borgward auto-businesses to be able to survive.
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