Borgward can be an automobile manufacturer originally set up 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 automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the corporation's first new car within over 40 years, the BX7 at the actual 2015 International Motor Present.The origins of Bremen's most significant auto-business get back to 1905 with the place in nearby Varel from the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself involving "Namag", maker of the Lloyd car. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and because of the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand your scope of his automotive business, and he took control than it.
The initial "automobile" Carl Borgward made was the 1924 Blitzkarren (turbo cart), a sort of very small three-wheeled van with 3 hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the even now three wheeler timber presented synthetic leather bodied 5 or maybe 7 hp Goliath Leader. Borgward turned his attention to the other businesses along with led the development of the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 in addition to in 1939 the name was shortened to Borgward 2000. The 2000 model was accompanied by 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 firms he had acquired over the years to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business at any given time of austerity and rationing. For many purposes the companies would be run to be a single entity, but in a business operated with a man to whom delegation failed to come naturally the proliferation of legal entities nonetheless added unhelpful layers of complexity throughout the 1950s and encouraged a broadening with the range which ultimately proved financially unsustainable while using sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.One of many top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's hottest model and remained in production for that life of the corporation. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers within the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (which was also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such because air suspension and programmed transmission, the company had trouble competing in the market. While larger companies including Opel and VW took good thing about economies of scale as well as kept their prices low to achieve market share, Borgward's cost structure was even more than necessary for its sizing, as it basically controlled as four tiny independent companies and not implemented such basic cost reduction strategies as joint development and parts sharing between company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced to be a water-cooled boxer with entrance wheel drive, but plagued with problems for instance water leakage and gearbox errors. Lloyd lost money on the car even though it was more expensive when compared with its direct competitors.In 1961, the company was pushed into liquidation by creditors. Carl Borgward died with July 1963, still insisting the company have been technically solvent. This proved to be true inside sense that after your creditors were paid fully, there was still 5. 5 million Marks left over from the business.
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Studies of difficulties at Borgward surfaced within an article that appeared in Germany's leading news newspaper, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly crucial of Carl Borgward's small business approach, and included many in the arguments later advanced to spellout or justify the firm's demise. The widest range of cars from any company in Germany, produced by three until finally recently operationally autonomous organizations (Borgward, Goliath and Lloyd) had been supporting a turnover associated with only 650 million Represents, placing the overall sales value on the combined Borgward auto firms only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation connected with new and modified products featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") gave rise to components which all too often did not work, broke down or fell apart, resulting in massive payments for pre-delivery remediation and/or post delivery warranty work that found their long ago to the company.The December 1960 Spiegel article hasn't been the only serious general public criticism targeting Borgward at the moment: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild classifieds and in television accounts. Critical media commentaries likewise appeared concerning large loans on the Borgward Group provided through the local Landesbank.It is apparent how the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses like auto manufacturing use the expensive machines and tools most efficiently should they use them constantly at full capacity, but the car market in Europe in the 1950s/60s was more periodic than today, with sales diminishing in Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was above usual, reflecting ambitious growth programs, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered because of the North American dealers in 1960 (and on the 12, 000 delivered to these) 6, 000 might have to get taken back following a slump in American demand. (Borgward was not the only real European auto maker hit by way of a North American slump popular for imported cars during 1960. In the same 12 months two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached the lending company for a further one million Marks of credit rating, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators decided to provide. However, following the flood involving critical press comment this senators withdrew their assure. They now required Carl Borgward to pledge the organization itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in a very still hostile media, Borgward agreed to your senate’s terms on 4 February 1961, thereby averting the bankruptcy of the business.The Bremen Senate additionally insisted on appointing its very own nominee as chairman from the company’s supervisory board. The man they select was Johannes Semler who reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice to the breadth of Semler’s occupation. He had studied law at university and worked initially as being a lawyer. The scion of a leading Hamburg political family, in 1945 he experienced himself been a founding person in the centre-right CSU bash, and was a person in the Bundestag between 1950 along with 1953. Despite his Hamburg beginnings, Semler was by this time around based in Munich, with a network of contacts from the Bavarian establishment that likely included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position in the Bizone. The appointment of Johannes Semler because representative of the Bremen senators to chair the Borgward supervisory aboard would, in retrospect, contribute to the debate that followed the Borgward personal bankruptcy.
With 28 July 1961 Semler, as Chairman of this supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the organization to continue to trade while as well protecting the interests regarding creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of his own, never had any objective of allowing the Borgward auto-businesses for you to survive.
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