Borgward is an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in this 1960s. The Borgward group developed four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the company's first new car in over 40 years, the BX7 at the particular 2015 International Motor Show.The origins of Bremen's most significant auto-business resume 1905 with the organization in nearby Varel from the "Hansa Automobilgesellschaft" and the muse in Bremen itself regarding "Namag", maker of the Lloyd auto. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and from the late 1920s faced 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 particular scope of his automobile business, and he took control than it.
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The 1st "automobile" Carl Borgward developed was the 1924 Blitzkarren (turbo cart), a sort of small three-wheeled van with two hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the still 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 with the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 and also in 1939 the identify was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from companies he had acquired in the past to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business each time of austerity and rationing. For many purposes the firms would be run being a single entity, but in a business operated by the man to whom delegation wouldn't come naturally the growth of legal entities even so added unhelpful layers of complexity throughout the 1950s and encouraged a broadening of the range which eventually proved financially unsustainable with the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of the top engineers at Borgward coming from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's most favored model and remained in production for your life of the firm. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (which was also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such seeing that air suspension and programmed transmission, the company had trouble competing available. While larger companies such as Opel and VW took selling point of economies of scale along with kept their prices low to gain market share, Borgward's cost structure was even greater than necessary for its size, as it basically operated as four tiny independent companies and do not implemented such basic cost reduction strategies as shared development and parts sharing between your company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced as being a water-cooled boxer with entrance wheel drive, but plagued with problems for example water leakage and gearbox snags. Lloyd lost money on the car though it was more expensive in comparison with its direct competitors.In 1961, the company was required into liquidation by credit card companies. Carl Borgward died with July 1963, still insisting the company had been technically solvent. This proved to be true within the sense that after the creditors were paid entirely, there was still 4. 5 million Marks left over from the business.
Reports of difficulties at Borgward surfaced in a article that appeared throughout Germany's leading news mag, “Der Spiegel” on age 14 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 front cover. It was strongly critical of Carl Borgward's company approach, and included many of the arguments later advanced to spell out or justify the company's demise. The widest range associated with cars from any company in Germany, produced by three until finally recently operationally autonomous firms (Borgward, Goliath and Lloyd) had been supporting a turnover of only 650 million Grades, placing the overall sales value from the combined Borgward auto companies only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation connected with new and modified models featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") provided rise to components which many times did not work, broke down or chop down apart, resulting in massive charges for pre-delivery remediation and/or write-up delivery warranty work that found their made use of to the company.The December 1960 Spiegel article had not been the only serious general public criticism targeting Borgward at this time: suddenly stridently negative (in the event that more succinct) comments also turned up in the influential mass-market Bild paper and in television reports. Critical media commentaries in addition appeared concerning large loans towards the Borgward Group provided by the local Landesbank.It is apparent the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses such as auto manufacturing use their particular expensive machines and tools most efficiently whenever they use them constantly on full capacity, but the car market in Europe from the 1950s/60s was more in season than today, with sales diminishing with Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars by the end of 1960 was above usual, reflecting ambitious growth ideas, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered from the North American dealers within 1960 (and of the 12, 000 delivered to these individuals) 6, 000 might have to become taken back following a slump in Us demand. (Borgward was not the one European auto maker hit by way of North American slump popular for imported cars throughout 1960. In the same season 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 bank for a further 1 million Marks of credit history, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators opted for provide. However, following the flood involving critical press comment the senators withdrew their guarantee. They now required Carl Borgward to pledge the business 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 5 February 1961, thereby averting the bankruptcy on the business.The Bremen Senate also insisted on appointing a nominee as chairman from the company’s supervisory board. The man they select was Johannes Semler which reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice towards breadth of Semler’s job. He had studied legislations at university and worked initially to be a lawyer. The scion of a number one Hamburg political family, in 1945 he experienced himself been a founding member of the centre-right CSU celebration, and was a member of the Bundestag between 1950 in addition to 1953. Despite his Hamburg beginning, Semler was by this time around based in Munich, with a network of contacts in the Bavarian establishment that likely included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position inside the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators for you to chair the Borgward supervisory panel would, in retrospect, contribute to the dispute that followed the Borgward personal bankruptcy.
In 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the organization to continue to trade while simultaneously protecting the interests associated with creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of her own, never had any purpose of allowing the Borgward auto-businesses to survive.
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