Borgward can be an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the particular 1960s. The Borgward group created four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grandson, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from China investment, and unveiled the company's first new car with over 40 years, the BX7 at the particular 2015 International Motor Show.The origins of Bremen's most significant auto-business get back on 1905 with the business in nearby Varel in the "Hansa Automobilgesellschaft" and the walls in Bremen itself of "Namag", maker of the Lloyd auto. 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 through the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the scope of his vehicle business, and he took control of the usb ports.
The primary "automobile" Carl Borgward developed was the 1924 Blitzkarren (super cart), a sort of very small three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success on 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 movie 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 still three wheeler timber framed synthetic leather bodied 5 or 7 hp Goliath Founder. Borgward turned his attention to the other businesses and led the development from the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 and in 1939 the title was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from corporations he had acquired in the past to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business during a period of austerity and rationing. For many purposes nokia's would be run to be a single entity, but in a business operated by way of man to whom delegation failed to come naturally the expansion of legal entities however added unhelpful layers of complexity with the 1950s and encouraged a broadening of the range which finally proved financially unsustainable while using the sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.One of several top engineers at Borgward by 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 the life of the business. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that has been also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such since air suspension and automatic transmission, the company had trouble competing in the marketplace. While larger companies similar to Opel and VW took benefit of economies of scale in addition to kept their prices low to realize market share, Borgward's cost structure was even beyond necessary for its dimension, as it basically run as four tiny independent companies and not implemented such basic expense reduction strategies as mutual development and parts sharing between company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced like a water-cooled boxer with entrance wheel drive, but plagued with problems like water leakage and gearbox glitches. Lloyd lost money on the car community . was more expensive as compared to its direct competitors.In 1961, the company was required into liquidation by creditors. Carl Borgward died throughout July 1963, still insisting the company have been technically solvent. This proved to be true from the sense that after the particular creditors were paid completely, there was still four. 5 million Marks left from the business.
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Reports of difficulties at Borgward surfaced in the article that appeared throughout Germany's leading news magazine, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly crucial of Carl Borgward's small business approach, and included many in the arguments later advanced to spell out or justify the company's demise. The widest range connected with cars from any maker in Germany, produced by three till recently operationally autonomous organizations (Borgward, Goliath and Lloyd) had been supporting a turnover connected with only 650 million Scars, placing the overall sales value from your 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 models featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") offered rise to components which too often did not work, broke down or fell apart, resulting in massive expenses for pre-delivery remediation and/or submit delivery warranty work that found their way back to the company.The December 1960 Spiegel article was not the only serious open public criticism targeting Borgward right now: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild magazine and in television accounts. Critical media commentaries in addition appeared concerning large loans towards the Borgward Group provided from the local Landesbank.It is apparent that the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses for instance auto manufacturing use his or her 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 in Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars by the end of 1960 was higher than usual, reflecting ambitious growth ideas, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered from the North American dealers throughout 1960 (and on the 12, 000 delivered to these) 6, 000 might have to become taken back following a slump in North american demand. (Borgward was not really the only European auto maker hit by a North American slump popular for imported cars in the course of 1960. In the same year two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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At the conclusion of December 1960 Borgward approached your banker for a further a single million Marks of credit rating, the loan to be backed by a guarantee from the Bremen regional government which initially the Bremen senators agreed to provide. However, following the flood of critical press comment the senators withdrew their assure. 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 within a still hostile media, Borgward agreed to the actual senate’s terms on several February 1961, thereby averting the bankruptcy from the business.The Bremen Senate likewise insisted on appointing its own nominee as chairman from the company’s supervisory board. The man they select was Johannes Semler which reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice on the breadth of Semler’s profession. He had studied law at university and worked initially being a lawyer. The scion of a respected 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 as well as 1953. Despite his Hamburg beginning, Semler was by this time based in Munich, with a network of contacts from the Bavarian establishment that almost certainly included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position inside Bizone. The appointment of Johannes Semler as the representative of the Bremen senators to chair the Borgward supervisory table would, in retrospect, contribute to the controversy 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 from 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 at the same time protecting the interests of creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his or her own, never had any goal of allowing the Borgward auto-businesses for you to survive.
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