Borgward is surely an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in your 1960s. The Borgward group developed four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grandson, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the businesses first new car with over 40 years, the BX7 at your 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business resume 1905 with the place in nearby Varel of the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself connected with "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and by the late 1920s faced chapter 7. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand this scope of his automobile business, and he took control than it.
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The very first "automobile" Carl Borgward made was the 1924 Blitzkarren (super cart), a sort of teeny 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 bought for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the nevertheless three wheeler timber framed synthetic leather bodied 5 or maybe 7 hp Goliath Leader. Borgward turned his focus on the other businesses in addition to led the development of the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and also in 1939 the label was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from firms he had acquired over the years to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business during a period of austerity and rationing. For many purposes the lenders would be run to be a single entity, but in a business operated with a man to whom delegation didn't come naturally the expansion of legal entities on the other hand added unhelpful layers of complexity over the 1950s and encouraged a broadening of the range which in the end proved financially unsustainable while using sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of several 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 in-demand model and remained in production for that 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 within the late 1950s, with the 16-valve engine from these transforming into a 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 while air suspension and intelligent transmission, the company had trouble competing in the market. While larger companies such as Opel and VW took benefit from economies of scale as well as kept their prices low to achieve market share, Borgward's cost structure was even higher than necessary for its dimension, as it basically run as four tiny independent companies and never implemented such basic cost reduction strategies as shared development and parts sharing between the company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced like a water-cooled boxer with entrance wheel drive, but plagued with problems such as water leakage and gearbox secrets. Lloyd lost money on the car even though it was more expensive compared to its direct competitors.In 1961, the company was compelled into liquidation by creditors. Carl Borgward died inside July 1963, still insisting the company ended up technically solvent. This proved to be true from the sense that after the creditors were paid completely, there was still several. 5 million Marks left over from the business.
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Reports of difficulties at Borgward surfaced within an article that appeared in Germany's leading news journal, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly crucial of Carl Borgward's small business approach, and included many with the arguments later advanced to spell out or justify the firm's demise. The widest range regarding cars from any producer in Germany, produced by three till recently operationally autonomous businesses (Borgward, Goliath and Lloyd) seemed to be supporting a turnover associated with only 650 million Signifies, placing the overall sales value from the combined Borgward auto firms only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation associated with new and modified designs featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") gave rise to components which excessively did not work, broke down or fell into apart, resulting in massive payments for pre-delivery remediation and/or submit delivery warranty work that found their in the past 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 turned up in the influential mass-market Bild newspapers and in television reviews. Critical media commentaries in addition appeared concerning large loans on the Borgward Group provided because of the local Landesbank.It is apparent which the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses including auto manufacturing use their expensive machines and tools most efficiently whenever they use them constantly with full capacity, but the car market in Europe inside the 1950s/60s was more periodic than today, with sales diminishing inside Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars towards the end of 1960 was beyond usual, reflecting ambitious growth plans, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered with the North American dealers within 1960 (and on the 12, 000 delivered to them) 6, 000 might have to become taken back following a slump in United states demand. (Borgward was not really the only European auto maker hit by way of a North American slump sought after for imported cars during 1960. In the same yr two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached the financial institution for a further 1 million Marks of credit ratings, the loan to be backed with a guarantee from the Bremen regional government which initially the Bremen senators agreed to provide. However, following the flood involving critical press comment this 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 very still hostile media, Borgward agreed to your senate’s terms on some February 1961, thereby averting the bankruptcy with the business.The Bremen Senate also insisted on appointing a nominee as chairman from the company’s supervisory board. The man they decided to go with was Johannes Semler which reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice towards the breadth of Semler’s profession. He had studied legislation at university and worked initially like 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 along with 1953. Despite his Hamburg roots, Semler was by now based in Munich, with a network of contacts inside Bavarian establishment that almost certainly included fellow CSU politician as well as 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 because the representative of the Bremen senators to be able to chair the Borgward supervisory mother board would, in retrospect, contribute to the controversy that followed the Borgward chapter 7.
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About 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors from 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 connected with 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” have got 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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