Borgward can be an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the particular 1960s. The Borgward group developed four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's grandson, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the company's first new car with over 40 years, the BX7 at the actual 2015 International Motor Indicate.The origins of Bremen's most significant auto-business go back to 1905 with the place in nearby Varel on the "Hansa Automobilgesellschaft" and the walls in Bremen itself of "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and by the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the scope of his vehicle business, and he took control than it.
The 1st "automobile" Carl Borgward created 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 in the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the even now three wheeler timber framed synthetic leather bodied 5 or 7 hp Goliath Leading. Borgward turned his focus on the other businesses as well as led the development on the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 and in 1939 the title was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from companies he had acquired over the years to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business at a time of austerity and rationing. For many purposes the businesses would be run being a single entity, but in a business operated by the man to whom delegation didn't come naturally the expansion of legal entities however added unhelpful layers of complexity throughout the 1950s and encouraged a broadening from the range which in the end proved financially unsustainable while using sales volumes achievable. In 1949 company offered 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 most favored model and remained in production for the life of the organization. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a distinct 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 many F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such while air suspension and intelligent transmission, the company had trouble competing available. While larger companies just like Opel and VW took good thing about economies of scale in addition to kept their prices low to get market share, Borgward's cost structure was even above necessary for its measurement, as it basically operated as four tiny independent companies and not implemented such basic cost reduction strategies as articulation development and parts sharing between the company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced as being a water-cooled boxer with front wheel drive, but plagued with problems such as water leakage and gearbox glitches. Lloyd lost money on the car community . was more expensive when compared with its direct competitors.In 1961, the company was forced into liquidation by creditors. Carl Borgward died in July 1963, still insisting the company had been technically solvent. This proved to be true in the sense that after your creditors were paid completely, there was still some. 5 million Marks left over from the business.
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Stories of difficulties at Borgward surfaced in an article that appeared throughout Germany's leading news journal, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly critical of Carl Borgward's business approach, and included many on the arguments later advanced to spellout or justify the businesses demise. The widest range connected with cars from any supplier in Germany, produced by three until finally recently operationally autonomous corporations (Borgward, Goliath and Lloyd) ended up being supporting a turnover associated with only 650 million Scars, placing the overall sales value through the combined Borgward auto companies only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation associated with new and modified products featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") presented rise to components which all too often did not work, broke down or droped apart, resulting in massive expenses for pre-delivery remediation and/or write-up delivery warranty work that found their way back to the company.The December 1960 Spiegel article wasn't the only serious open public criticism targeting Borgward at the moment: suddenly stridently negative (in case more succinct) comments also turned up in the influential mass-market Bild newspapers and in television reports. Critical media commentaries additionally appeared concerning large loans to the Borgward Group provided through the local Landesbank.It is apparent that this business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses like auto manufacturing use their particular expensive machines and tools most efficiently should they use them constantly with full capacity, but the car market in Europe within the 1950s/60s was more temporary than today, with sales diminishing within Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars right at the end of 1960 was more than usual, reflecting ambitious growth programs, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered through the North American dealers within 1960 (and on the 12, 000 delivered to these people) 6, 000 might have to get taken back following a slump in North american demand. (Borgward was not really the only European auto maker hit by way of a North American slump in demand for imported cars throughout 1960. In the same year two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in Big apple were overcrowded with unsold Dauphines.
Right at the end of December 1960 Borgward approached the lender for a further one particular million Marks of credit ratings, the loan to be backed by the guarantee from the Bremen local government which initially the Bremen senators opted for provide. However, following the flood regarding critical press comment this 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 a still hostile media, Borgward agreed to the particular senate’s terms on some February 1961, thereby averting the bankruptcy with the business.The Bremen Senate additionally insisted on appointing a nominee as chairman in 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 English, does less than full justice to the breadth of Semler’s career. He had studied rules at university and worked initially as being a lawyer. The scion of a number one Hamburg political family, in 1945 he acquired himself been a founding member of the centre-right CSU get together, and was a person in the Bundestag between 1950 as well as 1953. Despite his Hamburg sources, Semler was by now based in Munich, with a network of contacts inside 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 within the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators to chair the Borgward supervisory table would, in retrospect, contribute to the dispute that followed the Borgward individual bankruptcy.
With 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 your establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the company to continue to trade while as well protecting the interests regarding creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his own, never had any intent of allowing the Borgward auto-businesses to survive.
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