Borgward is usually an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the particular 1960s. The Borgward group developed four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grandson, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the business's first new car inside over 40 years, the BX7 at the actual 2015 International Motor Present.The origins of Bremen's most significant auto-business get back on 1905 with the establishment in nearby Varel in the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself associated with "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 situation then confronting Germany, the business failed to prosper and from the late 1920s faced chapter 7. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand this scope of his automobile business, and he took control from it.
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The initial "automobile" Carl Borgward developed was the 1924 Blitzkarren (super cart), a sort of small three-wheeled van with two hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered some of them for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the nonetheless three wheeler timber presented synthetic leather bodied 5 as well as 7 hp Goliath Master. Borgward turned his care about the other businesses and led the development in the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 and also in 1939 the name was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from companies he had acquired in recent times to found three different 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 businesses would be run like a single entity, but in a business operated by way of man to whom delegation failed to come naturally the growth of legal entities nonetheless added unhelpful layers of complexity from the 1950s and encouraged a broadening with the range which in the long run proved financially unsustainable while using sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.One of the top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most favored model and remained in production to the life of the organization. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these learning to be a successful Formula Two power unit (which has been also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such while air suspension and automated transmission, the company had trouble competing in the market. While larger companies just like Opel and VW took benefit from economies of scale in addition to kept their prices low to gain market share, Borgward's cost structure was even higher than necessary for its dimensions, as it basically handled as four tiny independent companies rather than implemented such basic expense reduction strategies as joint development and parts sharing between your company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced as a water-cooled boxer with entry wheel drive, but plagued with problems such as water leakage and gearbox secrets. Lloyd lost money on the car though it was more expensive in comparison with its direct competitors.In 1961, the company was compelled into liquidation by loan companies. Carl Borgward died inside July 1963, still insisting the company were being technically solvent. This proved to be true from the sense that after the particular creditors were paid completely, there was still some. 5 million Marks remaining from the business.
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Accounts of difficulties at Borgward surfaced in the article that appeared throughout Germany's leading news newspaper, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly vital of Carl Borgward's business approach, and included many in the arguments later advanced to spell out or justify the business's demise. The widest range involving cars from any supplier in Germany, produced by three until eventually recently operationally autonomous firms (Borgward, Goliath and Lloyd) ended up being supporting a turnover of only 650 million Marks, placing the overall sales value on the combined Borgward auto firms only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation of new and modified products featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") offered rise to components which all too often did not work, broke down or chop down apart, resulting in massive bills for pre-delivery remediation and/or write-up delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article was not the only serious public criticism targeting Borgward presently: suddenly stridently negative (in case more succinct) comments also turned up in the influential mass-market Bild classifieds and in television stories. Critical media commentaries furthermore appeared concerning large loans on the Borgward Group provided because of the local Landesbank.It is apparent that this business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses for example auto manufacturing use their expensive machines and tools most efficiently if they use them constantly on full capacity, but the car market in Europe inside the 1950s/60s was more periodic than today, with sales diminishing within Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars towards the end of 1960 was higher than usual, reflecting ambitious growth programs, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered with the North American dealers inside 1960 (and in the 12, 000 delivered to these) 6, 000 might have to become taken back following a slump in American demand. (Borgward was not really the only European auto maker hit with a North American slump in demand for imported cars while in 1960. In the same calendar year two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in New york 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, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators agreed to provide. However, following the flood involving critical press comment this senators withdrew their promise. They now required Carl Borgward to pledge the company 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 the actual senate’s terms on 4 February 1961, thereby averting the bankruptcy on the business.The Bremen Senate likewise insisted on appointing its nominee as chairman in the company’s supervisory board. The man they select was Johannes Semler with whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice to the breadth of Semler’s profession. He had studied rules at university and worked initially as a lawyer. The scion of a top Hamburg political family, in 1945 he had 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 roots, Semler was by this time around based in Munich, with a network of contacts from the Bavarian establishment that possibly included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very 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 controversy that followed the Borgward bankruptcy.
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About 28 July 1961 Semler, as Chairman of this 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 business enterprise to continue to trade while at the same time protecting the interests involving creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his very own, never had any intention of allowing the Borgward auto-businesses to help survive.
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