Borgward is an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in the 1960s. The Borgward group created four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from China investment, and unveiled the business's first new car in over 40 years, the BX7 at this 2015 International Motor Show.The origins of Bremen's most significant auto-business get back on 1905 with the business in nearby Varel with the "Hansa Automobilgesellschaft" and the muse in Bremen itself involving "Namag", maker of the Lloyd car. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and because of the late 1920s faced chapter 7. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand the scope of his auto business, and he took control of the usb ports.
The very first "automobile" Carl Borgward created was the 1924 Blitzkarren (lightning cart), a sort of teeny three-wheeled van with only two hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the even now three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Leading. Borgward turned his care about the other businesses and also led the development on the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 in addition to in 1939 the identify 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 many of the brand names from corporations 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 at a time of austerity and rationing. For many purposes the firms would be run as a single entity, but in a business operated with a man to whom delegation didn't come naturally the growth of legal entities nevertheless added unhelpful layers of complexity with the 1950s and encouraged a broadening on the range which ultimately proved financially unsustainable while using the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.On the list of 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 for that life of the corporation. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers in the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that was also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such since air suspension and programmed transmission, the company had trouble competing available on the market. While larger companies like Opel and VW took benefit of economies of scale and kept their prices low to get market share, Borgward's cost structure was even higher than necessary for its dimensions, as it basically handled as four tiny independent companies and do not implemented such basic cost reduction strategies as articulation development and parts sharing between company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced being a water-cooled boxer with top wheel drive, but plagued with problems such as water leakage and gearbox mistakes. Lloyd lost money on the car community . was more expensive than its direct competitors.In 1961, the company was compelled into liquidation by lenders. Carl Borgward died throughout 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 entirely, there was still some. 5 million Marks remaining from the business.
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Accounts of difficulties at Borgward surfaced within the article that appeared in Germany's leading news magazine, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly vital of Carl Borgward's business approach, and included many of the arguments later advanced to go into detail or justify the firm's demise. The widest range of cars from any producer in Germany, produced by three right up until recently operationally autonomous companies (Borgward, Goliath and Lloyd) has been supporting a turnover of only 650 million Scars, placing the overall sales value from the combined Borgward auto businesses only in fifth placement 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") offered rise to components which excessively did not work, broke down or chop down apart, resulting in massive charges for pre-delivery remediation and/or post delivery warranty work that found their in the past to the company.The December 1960 Spiegel article hasn't been the only serious open public criticism targeting Borgward currently: suddenly stridently negative (when more succinct) comments also turned up in the influential mass-market Bild newspaper and in television reviews. Critical media commentaries also appeared concerning large loans on the Borgward Group provided because of the local Landesbank.It is apparent that the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses like auto manufacturing use their expensive machines and tools most efficiently should they use them constantly from 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 early summer months: Borgward’s inventory of unsold cars at the end of 1960 was above usual, reflecting ambitious growth strategies, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered with the North American dealers inside 1960 (and of the 12, 000 delivered to all of them) 6, 000 might have for being taken back following a slump in United states demand. (Borgward was not the only European auto maker hit by a North American slump widely used for imported cars while in 1960. In the same 12 months two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
By the end of December 1960 Borgward approached your banker for a further 1 million Marks of credit ratings, the loan to be backed by the guarantee from the Bremen local government which initially the Bremen senators consented to provide. However, following the flood regarding critical press comment the senators withdrew their guarantee. 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 still hostile media, Borgward agreed to the particular senate’s terms on four February 1961, thereby averting the bankruptcy of the business.The Bremen Senate furthermore insisted on appointing a nominee as chairman in the company’s supervisory board. The man they decided to go with was Johannes Semler who reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice for the breadth of Semler’s occupation. He had studied rules 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 get together, and was a member of the Bundestag between 1950 and 1953. Despite his Hamburg sources, Semler was by these times based in Munich, with a network of contacts inside the Bavarian establishment that likely included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position from the Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators to be able to chair the Borgward supervisory board would, in retrospect, contribute to the debate that followed the Borgward chapter 7.
In 28 July 1961 Semler, as Chairman of this supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the business to continue to trade while concurrently protecting the interests regarding creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of her own, never had any purpose of allowing the Borgward auto-businesses in order to survive.
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