Borgward is an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in this 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 grandson, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the businesses first new car in over 40 years, the BX7 at the actual 2015 International Motor Demonstrate.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 involving "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and with the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand your scope of his automobile business, and he took control from it.
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The primary "automobile" Carl Borgward created was the 1924 Blitzkarren (turbo cart), a sort of teeny 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 purchased for delivery. The Reichspost ordered quite a few 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 chances are evolved into the even now three wheeler timber framed synthetic leather bodied 5 or even 7 hp Goliath Pioneer. Borgward turned his attention to the other businesses as well as led the development from the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 as well as in 1939 the brand 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 corporations he had acquired through the years to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business at the same time of austerity and rationing. For many purposes the companies would be run like a single entity, but in a business operated by way of man to whom delegation would not come naturally the proliferation of legal entities nonetheless added unhelpful layers of complexity from the 1950s and encouraged a broadening of the range which ultimately proved financially unsustainable with all the sales volumes achievable. In 1949 company shown 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 started in 1954. The Isabella would become Borgward's most favored model and remained in production for your life of the company. 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 becoming a successful Formula Two power unit (that was also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such since air suspension and programmed transmission, the company had trouble competing in the marketplace. While larger companies like Opel and VW took benefit from economies of scale and kept their prices low to gain market share, Borgward's cost structure was even more than necessary for its size, 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 to be a water-cooled boxer with entrance wheel drive, but plagued with problems such as water leakage and gearbox snags. Lloyd lost money on the car though it was more expensive compared to its direct competitors.In 1961, the company was pushed into liquidation by loan companies. Carl Borgward died with July 1963, still insisting the company ended up technically solvent. This proved to be true inside sense that after your creditors were paid in full, there was still 5. 5 million Marks remaining from the business.
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Reports of difficulties at Borgward surfaced within the article that appeared with Germany's leading news publication, “Der Spiegel” on 15 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 critical of Carl Borgward's company approach, and included many of the arguments later advanced to explain or justify the company's demise. The widest range connected with cars from any supplier in Germany, produced by three right up until recently operationally autonomous firms (Borgward, Goliath and Lloyd) was supporting a turnover connected with only 650 million Marks, placing the overall sales value through the combined Borgward auto corporations only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation connected with new and modified designs featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") afforded rise to components which many times did not work, broke down or droped apart, resulting in massive payments for pre-delivery remediation and/or post delivery warranty work that found their in the past to the company.The December 1960 Spiegel article has not been the only serious public criticism targeting Borgward right now: suddenly stridently negative (in the event that more succinct) comments also turned up in the influential mass-market Bild paper and in television stories. Critical media commentaries likewise appeared concerning large loans on the Borgward Group provided because of the local Landesbank.It is apparent the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses including auto manufacturing use his or her expensive machines and tools most efficiently when they use them constantly from full capacity, but the car market in Europe inside 1950s/60s was more seasons than today, with sales diminishing within Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was more than usual, reflecting ambitious growth options, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered with the North American dealers in 1960 (and from the 12, 000 delivered to these) 6, 000 might have to be taken back following a slump in North american demand. (Borgward was not the only European auto maker hit by a North American slump successful for imported cars while in 1960. In the same yr two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached the bank for a further one million Marks of credit history, the loan to be backed by way of a guarantee from the Bremen local government which initially the Bremen senators consented to provide. However, following the flood involving critical press comment the senators withdrew their ensure. They now required Carl Borgward to pledge the 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 this senate’s terms on several February 1961, thereby averting the bankruptcy with the business.The Bremen Senate in addition insisted on appointing a unique nominee as chairman of the company’s supervisory board. The man they selected was Johannes Semler with whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice on the breadth of Semler’s profession. He had studied rules at university and worked initially as being a lawyer. The scion of a respected Hamburg political family, in 1945 he had himself been a founding member of the centre-right CSU gathering, and was a member of the Bundestag between 1950 and 1953. Despite his Hamburg origins, Semler was by this time based in Munich, with a network of contacts from the Bavarian establishment that most likely included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position inside Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators for you to chair the Borgward supervisory panel would, in retrospect, contribute to the dispute that followed the Borgward bankruptcy.
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In 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the company to continue to trade while concurrently protecting the interests involving creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November by 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 for you to survive.
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