Borgward is surely an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in the actual 1960s. The Borgward group made four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's son, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the business's first new car inside 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 business in nearby Varel with the "Hansa Automobilgesellschaft" and the walls in Bremen itself regarding "Namag", maker of the Lloyd car. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economic situation then confronting Germany, the business failed to prosper and through the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand your scope of his auto business, and he took control of computer.
The 1st "automobile" Carl Borgward developed 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 out there 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 overseer of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the even now three wheeler timber framed synthetic leather bodied 5 or maybe 7 hp Goliath Leader. Borgward turned his attention to the other businesses along with led the development on the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 in addition to in 1939 the brand 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 companies he had acquired over time to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business at a time of austerity and rationing. For many purposes the businesses would be run as being a single entity, but in a business operated by a man to whom delegation would not come naturally the proliferation of legal entities nonetheless 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.On the list of top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's most widely used model and remained in production with the life of the organization. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (which has been also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such as air suspension and intelligent transmission, the company had trouble competing in the market. While larger companies just like Opel and VW took selling point of economies of scale and also kept their prices low to realize market share, Borgward's cost structure was even more than necessary for its dimension, as it basically handled as four tiny independent companies and don't implemented such basic cost reduction strategies as combined development and parts sharing between company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced being a water-cooled boxer with entry wheel drive, but plagued with problems including water leakage and gearbox glitches. Lloyd lost money on the car even though it was more expensive than its direct competitors.In 1961, the company was pressured into liquidation by loan companies. Carl Borgward died inside July 1963, still insisting the company were being technically solvent. This proved to be true inside the sense that after the creditors were paid 100 %, there was still 4. 5 million Marks left over from the business.
Reports of difficulties at Borgward surfaced within an article that appeared throughout Germany's leading news magazine, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly critical of Carl Borgward's company approach, and included many in the arguments later advanced to describe or justify the corporation's demise. The widest range involving cars from any supplier in Germany, produced by three until recently operationally autonomous corporations (Borgward, Goliath and Lloyd) has been supporting a turnover of only 650 million Represents, placing the overall sales value through the combined Borgward auto businesses only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation involving new and modified products featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") provided 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 write-up delivery warranty work that found their way back to the company.The December 1960 Spiegel article was not the only serious general public criticism targeting Borgward right now: suddenly stridently negative (in the event that more succinct) comments also resulted in in the influential mass-market Bild classifieds and in television accounts. Critical media commentaries additionally appeared concerning large loans on the Borgward Group provided from the local Landesbank.It is apparent that this business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses for example auto manufacturing use their own expensive machines and tools most efficiently should they use them constantly from full capacity, but the car market in Europe inside the 1950s/60s was more seasons than today, with sales diminishing throughout Winter, then peaking in early summer months: Borgward’s inventory of unsold cars at the end of 1960 was higher 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 through the North American dealers inside 1960 (and in the 12, 000 delivered to these) 6, 000 might have to become taken back following a slump in United states demand. (Borgward was not really the only European auto maker hit by way of a North American slump widely used for imported cars throughout 1960. In the same season two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached the financial institution for a further just one million Marks of credit, the loan to be backed by way of guarantee from the Bremen regional government which initially the Bremen senators agreed to provide. However, following the flood of critical press comment the particular senators withdrew their guarantee. 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 inside a still hostile media, Borgward agreed to this senate’s terms on 5 February 1961, thereby averting the bankruptcy from the business.The Bremen Senate also insisted on appointing its own nominee as chairman with the company’s supervisory board. The man they chose was Johannes Semler whom reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice to the breadth of Semler’s career. He had studied legislations at university and worked initially being a lawyer. The scion of a top Hamburg political family, in 1945 he acquired himself been a founding person in the centre-right CSU gathering, and was a member of the Bundestag between 1950 and 1953. Despite his Hamburg beginnings, Semler was by now based in Munich, with a network of contacts in the Bavarian establishment that most likely included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position within the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators in order to chair the Borgward supervisory panel would, in retrospect, contribute to the hot debate that followed the Borgward a bankruptcy proceeding.
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Upon 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the company to continue to trade while at the same time protecting the interests associated with creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of his very own, never had any purpose of allowing the Borgward auto-businesses to be able to survive.
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