Borgward is surely an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in your 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 grand son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the businesses first new car throughout over 40 years, the BX7 at the particular 2015 International Motor Show.The origins of Bremen's most significant auto-business get back on 1905 with the organization in nearby Varel with the "Hansa Automobilgesellschaft" and the muse in Bremen itself regarding "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and through the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand this scope of his automobile business, and he took control from it.
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The primary "automobile" Carl Borgward intended was the 1924 Blitzkarren (turbo cart), a sort of tiny three-wheeled van with two hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the even now three wheeler timber framed synthetic leather bodied 5 as well as 7 hp Goliath Founder. Borgward turned his focus on the other businesses and led the development from the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 as well as in 1939 the identify was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from corporations he had acquired in the past to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business at a time of austerity and rationing. For many purposes nokia's would be run being a single entity, but in a business operated by way of a man to whom delegation didn't come naturally the growth of legal entities nevertheless added unhelpful layers of complexity from the 1950s and encouraged a broadening of the range which finally proved financially unsustainable with the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.One of several top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most popular model and remained in production to the life of the business. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (which was also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such since air suspension and automatic transmission, the company had trouble competing available. While larger companies such as Opel and VW took benefit from economies of scale along with kept their prices low to find market share, Borgward's cost structure was even more than necessary for its measurement, as it basically managed as four tiny independent companies and not implemented such basic expense reduction strategies as shared development and parts sharing relating to the company's makes. Borgward suffered quality problems as well. 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 snags. Lloyd lost money on the car although it was more expensive than its direct competitors.In 1961, the company was required into liquidation by creditors. Carl Borgward died in July 1963, still insisting the company had been technically solvent. This proved to be true within the sense that after your creditors were paid fully, there was still several. 5 million Marks left from the business.
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Reviews of difficulties at Borgward surfaced in the article that appeared inside Germany's leading news magazine, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly critical of Carl Borgward's enterprise approach, and included many on the arguments later advanced to go into detail or justify the corporation's demise. The widest range associated with cars from any supplier in Germany, produced by three until eventually recently operationally autonomous companies (Borgward, Goliath and Lloyd) seemed to be supporting a turnover involving only 650 million Signifies, placing the overall sales value through the combined Borgward auto firms 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 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 article delivery warranty work that found their way back to the company.The December 1960 Spiegel article wasn't the only serious open criticism targeting Borgward right now: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild newspapers and in television reports. Critical media commentaries furthermore appeared concerning large loans to the Borgward Group provided because of the local Landesbank.It is apparent which the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses for instance auto manufacturing use their own expensive machines and tools most efficiently whenever they use them constantly with full capacity, but the car market in Europe within the 1950s/60s was more periodic than today, with sales diminishing with Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars towards the end of 1960 was more than usual, reflecting ambitious growth programs, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered because of the North American dealers with 1960 (and on the 12, 000 delivered to all of them) 6, 000 might have to get taken back following a slump in United states demand. (Borgward was not the only European auto maker hit by a North American slump popular for imported cars through 1960. In the same year two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached your banker for a further 1 million Marks of credit, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators decided to provide. However, following the flood connected with critical press comment your senators withdrew their assure. They now required Carl Borgward to pledge the corporation itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported within a still hostile media, Borgward agreed to the particular senate’s terms on some February 1961, thereby averting the bankruptcy on the business.The Bremen Senate also insisted on appointing its nominee as chairman from the company’s supervisory board. The man they chose was Johannes Semler which reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice on the breadth of Semler’s job. He had studied regulation at university and worked initially as a lawyer. The scion of a top Hamburg political family, in 1945 he acquired himself been a founding member of the centre-right CSU bash, and was a person in the Bundestag between 1950 and 1953. Despite his Hamburg beginning, Semler was by now based in Munich, with a network of contacts from the Bavarian establishment that most likely 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 in order to chair the Borgward supervisory aboard would, in retrospect, contribute to the controversy that followed the Borgward individual bankruptcy.
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About 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors from 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 business to continue to trade while as well protecting the interests associated with creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of his or her own, never had any objective of allowing the Borgward auto-businesses in order to survive.
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