Borgward is surely an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in the particular 1960s. The Borgward group produced four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's son, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the company's first new car throughout over 40 years, the BX7 at the 2015 International Motor Display.The origins of Bremen's most significant auto-business resume 1905 with the institution in nearby Varel from 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 crisis then confronting Germany, the business failed to prosper and through the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the actual scope of his automobile business, and he took control than it.
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The initial "automobile" Carl Borgward designed 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 available in the market gap it filled. Traders with a small budget purchased for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the even now three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Pioneer. Borgward turned his care about the other businesses as well as led the development in the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 in addition to in 1939 the label was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from corporations he had acquired through the years to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business each time of austerity and rationing. For many purposes the businesses would be run like a single entity, but in a business operated by way of a man to whom delegation did not come naturally the proliferation of legal entities nevertheless added unhelpful layers of complexity throughout the 1950s and encouraged a broadening of the range which finally proved financially unsustainable with the sales volumes achievable. In 1949 company presented 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 commenced in 1954. The Isabella would become Borgward's hottest model and remained in production for that life of the organization. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these learning to be a successful Formula Two power unit (which was also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such since air suspension and programmed transmission, the company had trouble competing available on the market. While larger companies such as Opel and VW took benefit of economies of scale and also kept their prices low to achieve market share, Borgward's cost structure was even more than necessary for its dimensions, as it basically managed as four tiny independent companies and do not implemented such basic cost reduction strategies as mutual development and parts sharing relating to the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced being a water-cooled boxer with top wheel drive, but plagued with problems including water leakage and gearbox glitches. Lloyd lost money on the car though it was more expensive compared to its direct competitors.In 1961, the company was required into liquidation by lenders. Carl Borgward died in July 1963, still insisting the company ended up technically solvent. This proved to be true inside sense that after the creditors were paid fully, there was still several. 5 million Marks left from the business.
Studies of difficulties at Borgward surfaced within the article that appeared throughout Germany's leading news newspaper, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly critical of Carl Borgward's company approach, and included many with the arguments later advanced to go into detail or justify the firm's demise. The widest range connected with cars from any manufacturer in Germany, produced by three right up until recently operationally autonomous firms (Borgward, Goliath and Lloyd) has been supporting a turnover regarding only 650 million Signifies, placing the overall sales value from the combined Borgward auto businesses only in fifth situation 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 inventions ("fast manisch[e] Konstruierwut") gave rise to components which excessively did not work, broke down or chop down apart, resulting in massive costs for pre-delivery remediation and/or publish delivery warranty work that found their made use of to the company.The December 1960 Spiegel article has not been the only serious open criticism targeting Borgward currently: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild classifieds and in television reports. Critical media commentaries likewise appeared concerning large loans on the Borgward Group provided by the local Landesbank.It is apparent which the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses such as auto manufacturing use the expensive machines and tools most efficiently whenever they use them constantly from full capacity, but the car market in Europe within the 1950s/60s was more periodic than today, with sales diminishing throughout Winter, then peaking in early summer months: Borgward’s inventory of unsold cars by the end of 1960 was higher than usual, reflecting ambitious growth options, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered because of the North American dealers inside 1960 (and from the 12, 000 delivered to these people) 6, 000 might have for being taken back following a slump in American demand. (Borgward was not the only European auto maker hit by way of a North American slump widely used for imported cars during 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 your banker for a further 1 million Marks of credit rating, 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 connected with critical press comment this senators withdrew their ensure. 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 the still hostile media, Borgward agreed to this senate’s terms on four February 1961, thereby averting the bankruptcy on the business.The Bremen Senate furthermore insisted on appointing a nominee as chairman from the company’s supervisory board. The man they decided to go with 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 on the breadth of Semler’s occupation. He had studied law at university and worked initially like a lawyer. The scion of a number one Hamburg political family, in 1945 he got himself been a founding person in the centre-right CSU celebration, and was a member of the Bundestag between 1950 as well as 1953. Despite his Hamburg origins, Semler was by on this occasion based in Munich, with a network of contacts from the Bavarian establishment that almost certainly included fellow CSU politician along with 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 the representative of the Bremen senators to chair the Borgward supervisory board would, in retrospect, contribute to the debate that followed the Borgward individual bankruptcy.
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With 28 July 1961 Semler, as Chairman of the supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings to the establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while as well protecting the interests regarding creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of their own, never had any objective of allowing the Borgward auto-businesses to survive.
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