Borgward is an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in the particular 1960s. The Borgward group created four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's grand son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the firm's first new car inside 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 organization in nearby Varel on the "Hansa Automobilgesellschaft" and the muse in Bremen itself associated with "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and because of the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand the actual scope of his automotive business, and he took control of the usb ports.
The 1st "automobile" Carl Borgward designed was the 1924 Blitzkarren (turbo cart), a sort of little three-wheeled van with two hp (1. 5 kW), which was an enormous success on the market gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered some of them for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 or perhaps 7 hp Goliath Leader. Borgward turned his awareness of the other businesses and led the development with the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 as well as in 1939 the name was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from corporations he had acquired in the past to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business at the same time of austerity and rationing. For many purposes the companies would be run being a single entity, but in a business operated by way of man to whom delegation wouldn't come naturally the expansion of legal entities however added unhelpful layers of complexity throughout the 1950s and encouraged a broadening of the range which finally proved financially unsustainable with the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.On the list of top engineers at Borgward coming from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella commenced in 1954. The Isabella would become Borgward's most popular model and remained in production with the life of the corporation. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these to become 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 seeing that air suspension and automatic transmission, the company had trouble competing out there. While larger companies such as Opel and VW took benefit of economies of scale as well as kept their prices low to gain market share, Borgward's cost structure was even beyond necessary for its dimensions, as it basically operated as four tiny independent companies and do not implemented such basic expense reduction strategies as mutual development and parts sharing between the company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced as a water-cooled boxer with entrance wheel drive, but plagued with problems such as water leakage and gearbox glitches. Lloyd lost money on the car community . was more expensive than its direct competitors.In 1961, the company was compelled into liquidation by creditors. Carl Borgward died in July 1963, still insisting the company had been technically solvent. This proved to be true inside sense that after your creditors were paid in full, there was still 5. 5 million Marks left from the business.
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Accounts of difficulties at Borgward surfaced in a article that appeared in Germany's leading news journal, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly essential of Carl Borgward's small business approach, and included many of the arguments later advanced to describe or justify the businesses demise. The widest range involving cars from any manufacturer in Germany, produced by three until finally recently operationally autonomous corporations (Borgward, Goliath and Lloyd) seemed to be supporting a turnover involving only 650 million Marks, placing the overall sales value from the combined Borgward auto businesses only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation of new and modified models featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") presented rise to components which too much did not work, broke down or fell into apart, resulting in massive costs for pre-delivery remediation and/or write-up delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article has not been the only serious open public criticism targeting Borgward presently: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild classifieds and in television stories. Critical media commentaries additionally appeared concerning large loans to the Borgward Group provided with the local Landesbank.It is apparent that the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses such as auto manufacturing use the expensive machines and tools most efficiently if they use them constantly on 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 early summer months: Borgward’s inventory of unsold cars towards the end of 1960 was greater than usual, reflecting ambitious growth ideas, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered by the North American dealers within 1960 (and on the 12, 000 delivered to them) 6, 000 might have being 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 season two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached your banker for a further one million Marks of credit score, the loan to be backed by way of guarantee from the Bremen regional government which initially the Bremen senators decided provide. However, following the flood of critical press comment your senators withdrew their ensure. 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 in a still hostile media, Borgward agreed to the particular senate’s terms on four February 1961, thereby averting the bankruptcy in the business.The Bremen Senate additionally insisted on appointing a unique nominee as chairman with the company’s supervisory board. The man they decided was Johannes Semler who reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice towards the breadth of Semler’s career. He had studied legislation at university and worked initially like a lawyer. The scion of a top Hamburg political family, in 1945 he had himself been a founding person in the centre-right CSU bash, and was a member of the Bundestag between 1950 as well as 1953. Despite his Hamburg sources, Semler was by this time based in Munich, with a network of contacts inside the Bavarian establishment that possibly 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 since the representative of the Bremen senators to chair the Borgward supervisory panel would, in retrospect, contribute to the dispute that followed the Borgward personal bankruptcy.
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About 28 July 1961 Semler, as Chairman of the supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling the organization to continue to trade while simultaneously protecting the interests regarding creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of his or her own, never had any goal of allowing the Borgward auto-businesses in order to survive.
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