Borgward is surely an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in the 1960s. The Borgward group developed four brands of autos: 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 partner Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the business's first new car with over 40 years, the BX7 at the actual 2015 International Motor Present.The origins of Bremen's most significant auto-business resume 1905 with the institution in nearby Varel with the "Hansa Automobilgesellschaft" and the walls in Bremen itself regarding "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to 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 of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand your scope of his automobile business, and he took control of computer.
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The 1st "automobile" Carl Borgward designed was the 1924 Blitzkarren (turbo cart), a sort of small three-wheeled van with 2 hp (1. 5 kW), which was an enormous success on the market gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 or perhaps 7 hp Goliath Leading. Borgward turned his care about the other businesses and led the development on the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and in 1939 the name was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used some 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 quantity of steel allocated to his business during a period of austerity and rationing. For many purposes the businesses would be run being a single entity, but in a business operated with a man to whom delegation didn't come naturally the proliferation of legal entities however added unhelpful layers of complexity with the 1950s and encouraged a broadening with the range which ultimately proved financially unsustainable while using the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.Among the top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's most popular model and remained in production with 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 inside late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (which was also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such because air suspension and automated transmission, the company had trouble competing available on the market. While larger companies such as Opel and VW took benefit from economies of scale and also kept their prices low to realize market share, Borgward's cost structure was even beyond necessary for its measurement, as it basically handled as four tiny independent companies and not implemented such basic cost reduction strategies as mutual development and parts sharing between your company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced as being a water-cooled boxer with front wheel drive, but plagued with problems for example water leakage and gearbox snags. Lloyd lost money on the car although it was more expensive in comparison with its direct competitors.In 1961, the company was pressured into liquidation by lenders. Carl Borgward died within July 1963, still insisting the company had been technically solvent. This proved to be true inside sense that after this creditors were paid in full, there was still some. 5 million Marks remaining from the business.
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Studies of difficulties at Borgward surfaced in an article that appeared with Germany's leading news mag, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted with 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 with the arguments later advanced to describe or justify the corporation's demise. The widest range of cars from any producer in Germany, produced by three till recently operationally autonomous businesses (Borgward, Goliath and Lloyd) was supporting a turnover involving only 650 million Marks, placing the overall sales value in the combined Borgward auto businesses only in fifth place 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 products featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") afforded rise to components which too much did not work, broke down or chop down apart, resulting in massive expenses for pre-delivery remediation and/or post delivery warranty work that found their long ago to the company.The December 1960 Spiegel article has not been the only serious community criticism targeting Borgward at this time: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild newspaper and in television stories. Critical media commentaries additionally appeared concerning large loans towards 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 like auto manufacturing use their particular expensive machines and tools most efficiently when they use them constantly from full capacity, but the car market in Europe from the 1950s/60s was more periodic than today, with sales diminishing throughout Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars towards the end of 1960 was greater than usual, reflecting ambitious growth ideas, most obviously in respect of the united states 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 all of them) 6, 000 might have to become taken back following a slump in United states demand. (Borgward was not really the only European auto maker hit with a North American slump popular for imported cars throughout 1960. In the same yr two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Big apple were overcrowded with unsold Dauphines.
Right at the end of December 1960 Borgward approached the lending company for a further just one million Marks of credit history, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators opted for provide. However, following the flood associated with critical press comment the senators withdrew their guarantee. 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 in the still hostile media, Borgward agreed to the senate’s terms on 5 February 1961, thereby averting the bankruptcy on the business.The Bremen Senate additionally insisted on appointing its nominee as chairman in the company’s supervisory board. The man they select was Johannes Semler which reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice on the breadth of Semler’s career. He had studied law at university and worked initially being a lawyer. The scion of a leading Hamburg political family, in 1945 he had himself been a founding member of the centre-right CSU gathering, and was a member of the Bundestag between 1950 as well as 1953. Despite his Hamburg beginnings, Semler was by this time around based in Munich, with a network of contacts inside Bavarian establishment that almost certainly included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position within the Bizone. The appointment of Johannes Semler because representative of the Bremen senators to chair the Borgward supervisory table would, in retrospect, contribute to the dispute that followed the Borgward personal bankruptcy.
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About 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 the court sanctioned scheme of arrangement enabling the organization to continue to trade while concurrently protecting the interests of creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of her own, never had any intent of allowing the Borgward auto-businesses to survive.
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