Borgward can be an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in your 1960s. The Borgward group created four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grandson, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the business's first new car with over 40 years, the BX7 at the 2015 International Motor Indicate.The origins of Bremen's most significant auto-business get back on 1905 with the organization in nearby Varel in the "Hansa Automobilgesellschaft" and the walls in Bremen itself associated with "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to form 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 individual bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand this scope of his auto business, and he took control than it.
The primary "automobile" Carl Borgward developed was the 1924 Blitzkarren (lightning cart), a sort of little three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget purchased for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the director 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 nevertheless three wheeler timber framed synthetic leather bodied 5 or perhaps 7 hp Goliath Leading. Borgward turned his attention to the other businesses and led the development of the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 along with in 1939 the brand 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 a few of the brand names from firms he had acquired through the years to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business during a period of austerity and rationing. For many purposes the businesses would be run like a single entity, but in a business operated with a man to whom delegation would not come naturally the spreading of legal entities nevertheless added unhelpful layers of complexity from the 1950s and encouraged a broadening from the range which eventually proved financially unsustainable with the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of the top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's most widely used model and remained in production for that life of the firm. 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 becoming a successful Formula Two power unit (that was also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such because air suspension and automated transmission, the company had trouble competing in the market. While larger companies such as Opel and VW took advantage of economies of scale and kept their prices low to achieve market share, Borgward's cost structure was even more than necessary for its measurement, as it basically managed as four tiny independent companies and don't implemented such basic price tag reduction strategies as mutual development and parts sharing involving the company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced as a water-cooled boxer with entrance wheel drive, but plagued with problems for example water leakage and gearbox secrets. Lloyd lost money on the car even 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 within July 1963, still insisting the company have been technically solvent. This proved to be true in the sense that after the actual creditors were paid in full, there was still some. 5 million Marks left over from the business.
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Studies of difficulties at Borgward surfaced in the article that appeared with Germany's leading news journal, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly important of Carl Borgward's enterprise approach, and included many on the arguments later advanced to describe or justify the corporation's demise. The widest range associated with cars from any producer in Germany, produced by three right up until recently operationally autonomous firms (Borgward, Goliath and Lloyd) ended up being supporting a turnover of only 650 million Scars, placing the overall sales value from the combined Borgward auto firms only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation involving new and modified models featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") afforded rise to components which too often did not work, broke down or chop down apart, resulting in massive charges for pre-delivery remediation and/or article delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article had not been the only serious community criticism targeting Borgward currently: suddenly stridently negative (in the event that more succinct) comments also turned up in the influential mass-market Bild classifieds and in television reviews. Critical media commentaries furthermore appeared concerning large loans towards the Borgward Group provided through the local Landesbank.It is apparent which the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses for instance auto manufacturing use the expensive machines and tools most efficiently whenever they use them constantly at full capacity, but the car market in Europe inside the 1950s/60s was more temporary than today, with sales diminishing inside Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars at the end of 1960 was greater 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 from the North American dealers within 1960 (and in the 12, 000 delivered to them) 6, 000 might have to get taken back following a slump in Us demand. (Borgward was not the only European auto maker hit by way of a North American slump widely used for imported cars throughout 1960. In the same season two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached the bank for a further just one million Marks of credit, the loan to be backed with a guarantee from the Bremen regional government which initially the Bremen senators decided provide. However, following the flood regarding critical press comment the senators withdrew their promise. They now required Carl Borgward to pledge this company itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported in a very still hostile media, Borgward agreed to your senate’s terms on several February 1961, thereby averting the bankruptcy on the business.The Bremen Senate additionally insisted on appointing its very own nominee as chairman with the company’s supervisory board. The man they chose was Johannes Semler to whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice to the breadth of Semler’s occupation. He had studied legislations at university and worked initially as being a lawyer. The scion of a respected Hamburg political family, in 1945 he received himself been a founding person in the centre-right CSU celebration, and was a member of the Bundestag between 1950 in addition to 1953. Despite his Hamburg origins, Semler was by these times based in Munich, with a network of contacts inside the Bavarian establishment that most likely included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position in the Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators to help chair the Borgward supervisory aboard would, in retrospect, contribute to the controversy that followed the Borgward personal bankruptcy.
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In 28 July 1961 Semler, as Chairman of the supervisory board joined the directors from the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling this company to continue to trade while simultaneously protecting the interests associated with creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his own, never had any objective of allowing the Borgward auto-businesses to survive.
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