Borgward can be an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in the 1960s. The Borgward group made four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grandson, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the company's first new car within over 40 years, the BX7 at this 2015 International Motor Indicate.The origins of Bremen's most significant auto-business get back to 1905 with the establishment in nearby Varel with the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself of "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and because of the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand this scope of his car business, and he took control from it.
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The primary "automobile" Carl Borgward intended was the 1924 Blitzkarren (lightning 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 purchased for delivery. The Reichspost ordered some of them for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the nonetheless three wheeler timber presented synthetic leather bodied 5 or maybe 7 hp Goliath Leading. Borgward turned his attention to the other businesses in addition to led the development with the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and in 1939 the identify was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from companies he had acquired over the years to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the amount 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 failed to come naturally the expansion of legal entities on the other hand added unhelpful layers of complexity through the 1950s and encouraged a broadening on the range which finally proved financially unsustainable while using the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.One of many top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella commenced in 1954. The Isabella would become Borgward's most popular model and remained in production for the life of the corporation. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that was also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such as air suspension and automated transmission, the company had trouble competing available on the market. While larger companies like Opel and VW took advantage of economies of scale and also kept their prices low to get market share, Borgward's cost structure was even above necessary for its sizing, as it basically operated as four tiny independent companies and never implemented such basic price reduction strategies as combined development and parts sharing between company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced to be a water-cooled boxer with entry wheel drive, but plagued with problems for instance water leakage and gearbox snags. Lloyd lost money on the car community . was more expensive than its direct competitors.In 1961, the company was compelled into liquidation by lenders. Carl Borgward died in July 1963, still insisting the company had been technically solvent. This proved to be true inside the sense that after your creditors were paid fully, there was still 4. 5 million Marks left from the business.
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Accounts of difficulties at Borgward surfaced in a article that appeared inside Germany's leading news newspaper, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly important of Carl Borgward's business approach, and included many from the arguments later advanced to spell out or justify the company's demise. The widest range involving cars from any company in Germany, produced by three right up until recently operationally autonomous companies (Borgward, Goliath and Lloyd) was supporting a turnover connected with only 650 million Signifies, placing the overall sales value from your combined Borgward auto organizations only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation of new and modified versions featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") gave rise to components which too often did not work, broke down or fell into apart, resulting in massive payments for pre-delivery remediation and/or write-up delivery warranty work that found their long ago to the company.The December 1960 Spiegel article wasn't the only serious community criticism targeting Borgward presently: suddenly stridently negative (in the event more succinct) comments also resulted in in the influential mass-market Bild paper and in television studies. Critical media commentaries additionally appeared concerning large loans towards the Borgward Group provided through the local Landesbank.It is apparent that the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses for instance auto manufacturing use their particular expensive machines and tools most efficiently as long as they use them constantly in full capacity, but the car market in Europe inside 1950s/60s was more seasons than today, with sales diminishing with Winter, then peaking in early summer months: Borgward’s inventory of unsold cars towards the end of 1960 was greater than usual, reflecting ambitious growth strategies, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered because of the North American dealers within 1960 (and from the 12, 000 delivered to these people) 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 way of a North American slump in demand for imported cars through 1960. In the same calendar year two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached the lending company for a further a single million Marks of credit rating, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators agreed to provide. However, following the flood of critical press comment the actual 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 the still hostile media, Borgward agreed to the actual senate’s terms on some February 1961, thereby averting the bankruptcy on the business.The Bremen Senate in addition insisted on appointing its nominee as chairman with the company’s supervisory board. The man they select was Johannes Semler who reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice towards breadth of Semler’s occupation. He had studied legislations at university and worked initially as a lawyer. The scion of a top Hamburg political family, in 1945 he received himself been a founding person in the centre-right CSU get together, and was a member of the Bundestag between 1950 and also 1953. Despite his Hamburg sources, Semler was by on this occasion based in Munich, with a network of contacts inside Bavarian establishment that probably included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position from the Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators for you to chair the Borgward supervisory board would, in retrospect, contribute to the debate that followed the Borgward chapter 7.
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In 28 July 1961 Semler, as Chairman of the actual 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 just a court sanctioned scheme of arrangement enabling the company to continue to trade while while doing so protecting the interests associated with creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his own, never had any intention of allowing the Borgward auto-businesses to help survive.
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