Borgward can be 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 produced four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grandson, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the corporation's first new car within over 40 years, the BX7 at this 2015 International Motor Display.The origins of Bremen's most significant auto-business get back on 1905 with the business in nearby Varel of the "Hansa Automobilgesellschaft" and the muse in Bremen itself regarding "Namag", maker of the Lloyd auto. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and because of the late 1920s faced chapter 7. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the actual scope of his automobile business, and he took control from it.
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The first "automobile" Carl Borgward designed 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 already in the market gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the nevertheless three wheeler timber framed synthetic leather bodied 5 as well as 7 hp Goliath Master. Borgward turned his care about the other businesses along with 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 stayed in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from organizations he had acquired through the years to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business each time of austerity and rationing. For many purposes nokia's would be run like a single entity, but in a business operated by way of man to whom delegation failed to come naturally the spreading of legal entities on the other hand added unhelpful layers of complexity with the 1950s and encouraged a broadening with the range which eventually proved financially unsustainable with the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of many top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most favored model and remained in production for that 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 inside late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (which was also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such seeing that air suspension and programmed transmission, the company had trouble competing available. While larger companies just like Opel and VW took benefit from economies of scale in addition to kept their prices low to get market share, Borgward's cost structure was even more than necessary for its measurement, as it basically managed as four tiny independent companies and not implemented such basic expense reduction strategies as articulation development and parts sharing between your company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced as a water-cooled boxer with entrance 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 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 ended up technically solvent. This proved to be true inside sense that after your creditors were paid fully, there was still several. 5 million Marks left from the business.
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Reviews of difficulties at Borgward surfaced in the article that appeared with Germany's leading news magazine, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly vital of Carl Borgward's company approach, and included many from the arguments later advanced to spell out or justify the firm's demise. The widest range associated with cars from any manufacturer in Germany, produced by three until eventually recently operationally autonomous corporations (Borgward, Goliath and Lloyd) ended up being supporting a turnover of only 650 million Marks, placing the overall sales value through the combined Borgward auto organizations only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation connected with new and modified versions featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") gave rise to components which many times did not work, broke down or fell apart, resulting in massive payments for pre-delivery remediation and/or submit delivery warranty work that found their made use of to the company.The December 1960 Spiegel article wasn't the only serious general public criticism targeting Borgward currently: suddenly stridently negative (in case more succinct) comments also resulted in in the influential mass-market Bild newspapers and in television reviews. Critical media commentaries also appeared concerning large loans towards Borgward Group provided from the local Landesbank.It is apparent the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses like auto manufacturing use the expensive machines and tools most efficiently as long as they use them constantly on full capacity, but the car market in Europe from the 1950s/60s was more in season than today, with sales diminishing with Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars towards the end of 1960 was above usual, reflecting ambitious growth options, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered through the North American dealers in 1960 (and from the 12, 000 delivered to all of them) 6, 000 might have to be taken back following a slump in United states demand. (Borgward was not the one European auto maker hit by a North American slump in demand for imported cars during 1960. In the same calendar year two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the lender for a further just one million Marks of credit rating, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators decided provide. However, following the flood of critical press comment the particular senators withdrew their assurance. They now required Carl Borgward to pledge the company itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in a still hostile media, Borgward agreed to the actual senate’s terms on four February 1961, thereby averting the bankruptcy on the business.The Bremen Senate also insisted on appointing a unique nominee as chairman from the company’s supervisory board. The man they decided to go with was Johannes Semler to whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice for the breadth of Semler’s profession. He had studied rules at university and worked initially to be a lawyer. The scion of a number one Hamburg political family, in 1945 he had himself been a founding person in the centre-right CSU bash, and was a person in the Bundestag between 1950 and 1953. Despite his Hamburg origins, Semler was by now based in Munich, with a network of contacts inside Bavarian establishment that likely included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position from the Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators to help chair the Borgward supervisory mother board would, in retrospect, contribute to the hot debate that followed the Borgward personal bankruptcy.
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In 28 July 1961 Semler, as Chairman of your supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling this company to continue to trade while simultaneously 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” include suggested that Semler, for reasons of his own, never had any intent of allowing the Borgward auto-businesses to be able to survive.
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