Borgward is an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in this 1960s. The Borgward group produced four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grandson, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the company's first new car within over 40 years, the BX7 at the 2015 International Motor Present.The origins of Bremen's most significant auto-business get back on 1905 with the institution in nearby Varel of the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself regarding "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and with the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand the actual scope of his automobile business, and he took control from it.
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The very first "automobile" Carl Borgward made was the 1924 Blitzkarren (super cart), a sort of small three-wheeled van with only two hp (1. 5 kW), which was an enormous success already in the market gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the nevertheless three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Pioneer. Borgward turned his care about the other businesses in addition to led the development on the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 and also in 1939 the label was shortened to Borgward 2000. The 2000 model was followed by 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 over the years to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase the number 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 expansion of legal entities however added unhelpful layers of complexity throughout the 1950s and encouraged a broadening in the range which eventually proved financially unsustainable with all the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of many top engineers at Borgward coming from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's hottest model and remained in production with the life of the company. In 1960 the Borgward P100 seemed to be 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 being a successful Formula Two power unit (that has been also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such while air suspension and computerized transmission, the company had trouble competing in the marketplace. While larger companies like Opel and VW took benefit of economies of scale and kept their prices low to realize market share, Borgward's cost structure was even higher than necessary for its sizing, as it basically managed as four tiny independent companies and never 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 front wheel drive, but plagued with problems for instance water leakage and gearbox glitches. Lloyd lost money on the car just about the most was more expensive as compared to its direct competitors.In 1961, the company was compelled into liquidation by loan companies. Carl Borgward died in July 1963, still insisting the company ended up technically solvent. This proved to be true in 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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Stories of difficulties at Borgward surfaced in a article that appeared in Germany's leading news newspaper, “Der Spiegel” on 15 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 entry cover. It was strongly essential of Carl Borgward's small business approach, and included many with the arguments later advanced to spell out or justify the corporation's demise. The widest range involving cars from any producer in Germany, produced by three until 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 companies only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation associated with new and modified products featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") offered rise to components which all too often did not work, broke down or droped apart, resulting in massive payments for pre-delivery remediation and/or post delivery warranty work that found their way back to the company.The December 1960 Spiegel article was not the only serious open public criticism targeting Borgward at the moment: suddenly stridently negative (in the event that more succinct) comments also turned up in the influential mass-market Bild newspapers and in television reports. Critical media commentaries in addition appeared concerning large loans to the Borgward Group provided by the local Landesbank.It is apparent that this business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses for instance auto manufacturing use his or her expensive machines and tools most efficiently whenever they use them constantly at full capacity, but the car market in Europe within the 1950s/60s was more temporary than today, with sales diminishing in Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was more than usual, reflecting ambitious growth ideas, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered through the North American dealers with 1960 (and in the 12, 000 delivered to these individuals) 6, 000 might have to become taken back following a slump in North american demand. (Borgward was not the one European auto maker hit by the North American slump popular for imported cars during 1960. In the same season two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Nyc 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 by way of guarantee from the Bremen local government which initially the Bremen senators consented to provide. However, following the flood regarding critical press comment the actual senators withdrew their ensure. 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 still hostile media, Borgward agreed to the senate’s terms on some February 1961, thereby averting the bankruptcy of the business.The Bremen Senate likewise insisted on appointing its very own nominee as chairman in 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 directly into English, does less than full justice towards the breadth of Semler’s occupation. He had studied legislation at university and worked initially as being a lawyer. The scion of a number one Hamburg political family, in 1945 he received himself been a founding person in the centre-right CSU gathering, and was a person in the Bundestag between 1950 and also 1953. Despite his Hamburg sources, Semler was by on this occasion based in Munich, with a network of contacts in the Bavarian establishment that possibly included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position from the Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators to help chair the Borgward supervisory mother board would, in retrospect, contribute to the debate that followed the Borgward bankruptcy.
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With 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling the business to continue to trade while simultaneously protecting the interests associated with creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his or her own, never had any intention of allowing the Borgward auto-businesses for you to survive.
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