Borgward can be an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the particular 1960s. The Borgward group produced four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's son, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the businesses first new car inside over 40 years, the BX7 at your 2015 International Motor Indicate.The origins of Bremen's most significant auto-business get back to 1905 with the business in nearby Varel of the "Hansa Automobilgesellschaft" and the foundation in Bremen itself connected with "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to make 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 personal bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand this scope of his vehicle business, and he took control of it.
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The primary "automobile" Carl Borgward developed was the 1924 Blitzkarren (super cart), a sort of little three-wheeled van with only 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 overseer of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the nonetheless three wheeler timber presented synthetic leather bodied 5 or perhaps 7 hp Goliath Leading. Borgward turned his awareness of the other businesses and led the development from the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 along with in 1939 the title was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from businesses he had acquired through the years to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business at the same time of austerity and rationing. For many purposes the businesses would be run to be a single entity, but in a business operated by a man to whom delegation didn't come naturally the proliferation of legal entities on the other hand added unhelpful layers of complexity with the 1950s and encouraged a broadening with the range which in the long run proved financially unsustainable while using the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.Among the top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most popular model and remained in production with the life of the business. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers inside late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that was also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such because air suspension and computerized transmission, the company had trouble competing in the market. While larger companies like Opel and VW took benefit from economies of scale in addition to kept their prices low to find market share, Borgward's cost structure was even beyond necessary for its dimension, as it basically handled as four tiny independent companies and don't implemented such basic cost reduction strategies as joint development and parts sharing involving the company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced as being a water-cooled boxer with front wheel drive, but plagued with problems including water leakage and gearbox secrets. Lloyd lost money on the car although it was more expensive when compared with its direct competitors.In 1961, the company was pressured into liquidation by loan companies. Carl Borgward died in July 1963, still insisting the company have been technically solvent. This proved to be true inside sense that after the particular creditors were paid fully, there was still 5. 5 million Marks left from the business.
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Studies of difficulties at Borgward surfaced within the article that appeared within Germany's leading news journal, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly critical of Carl Borgward's organization approach, and included many in the arguments later advanced to spell out or justify the businesses demise. The widest range associated with cars from any supplier in Germany, produced by three right up until recently operationally autonomous corporations (Borgward, Goliath and Lloyd) seemed to be supporting a turnover regarding only 650 million Marks, placing the overall sales value from your combined Borgward auto businesses only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation regarding new and modified types featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") presented rise to components which too much did not work, broke down or droped apart, resulting in massive charges for pre-delivery remediation and/or write-up delivery warranty work that found their long ago to the company.The December 1960 Spiegel article hasn't been the only serious community criticism targeting Borgward at this time: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild newspapers and in television reviews. Critical media commentaries furthermore appeared concerning large loans towards the Borgward Group provided with the local Landesbank.It is apparent that the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses for instance auto manufacturing use their particular expensive machines and tools most efficiently should they use them constantly from full capacity, but the car market in Europe within the 1950s/60s was more periodic than today, with sales diminishing throughout Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars right at the end of 1960 was greater than usual, reflecting ambitious growth ideas, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered because of the North American dealers within 1960 (and in the 12, 000 delivered to these individuals) 6, 000 might have to be taken back following a slump in Us demand. (Borgward was not really the only European auto maker hit by the North American slump in demand for imported cars through 1960. In the same calendar year two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached the lending company for a further one particular million Marks of credit rating, the loan to be backed with a guarantee from the Bremen regional government which initially the Bremen senators consented to provide. However, following the flood associated with critical press comment the senators withdrew their guarantee. They now required Carl Borgward to pledge the organization 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 your senate’s terms on four February 1961, thereby averting the bankruptcy with the business.The Bremen Senate furthermore insisted on appointing a nominee as chairman on the company’s supervisory board. The man they selected was Johannes Semler with whom reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice for the breadth of Semler’s vocation. He had studied regulation at university and worked initially as a lawyer. The scion of a top Hamburg political family, in 1945 he received himself been a founding member of the centre-right CSU gathering, and was a person in the Bundestag between 1950 and also 1953. Despite his Hamburg origins, Semler was by these times based in Munich, with a network of contacts from the Bavarian establishment that possibly 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 since the representative of the Bremen senators for you to chair the Borgward supervisory board would, in retrospect, contribute to the controversy that followed the Borgward personal bankruptcy.
In 28 July 1961 Semler, as Chairman of the supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the company to continue to trade while as well protecting the interests connected with creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of his very own, never had any intention of allowing the Borgward auto-businesses for you to survive.
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