Borgward is an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in your 1960s. The Borgward group developed four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the business's first new car inside over 40 years, the BX7 at the actual 2015 International Motor Present.The origins of Bremen's most significant auto-business return to 1905 with the organization in nearby Varel on the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself associated with "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and by the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand the actual scope of his vehicle business, and he took control of computer.
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The very first "automobile" Carl Borgward designed was the 1924 Blitzkarren (lightning cart), a sort of teeny 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 got it for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the still three wheeler timber framed synthetic leather bodied 5 as well as 7 hp Goliath Master. Borgward turned his attention to the other businesses and also led the development with 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 as well as the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used a number 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 the number of steel allocated to his business during a period of austerity and rationing. For many purposes the lenders would be run as a single entity, but in a business operated with a man to whom delegation failed to come naturally the expansion of legal entities nonetheless added unhelpful layers of complexity with the 1950s and encouraged a broadening of the range which in the long run proved financially unsustainable using the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.One of several top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most widely used model and remained in production for that life of the business. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (which has been also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such as air suspension and intelligent transmission, the company had trouble competing in the marketplace. While larger companies including Opel and VW took good thing about economies of scale along with kept their prices low to gain market share, Borgward's cost structure was even beyond necessary for its dimension, as it basically operated as four tiny independent companies and do not implemented such basic price reduction strategies as shared development and parts sharing between your company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced to be a water-cooled boxer with the front wheel drive, but plagued with problems for instance water leakage and gearbox snags. Lloyd lost money on the car even though it was more expensive compared to its direct competitors.In 1961, the company was pushed into liquidation by credit card companies. Carl Borgward died in July 1963, still insisting the company was technically solvent. This proved to be true within the sense that after your creditors were paid fully, there was still several. 5 million Marks remaining from the business.
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Stories of difficulties at Borgward surfaced within the article that appeared in Germany's leading news magazine, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly important of Carl Borgward's organization approach, and included many from the arguments later advanced to go into detail or justify the firm's demise. The widest range regarding cars from any producer in Germany, produced by three until finally recently operationally autonomous organizations (Borgward, Goliath and Lloyd) has been supporting a turnover involving only 650 million Signifies, placing the overall sales value from your combined Borgward auto companies only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation regarding new and modified versions featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") presented rise to components which many times did not work, broke down or dropped apart, resulting in massive costs for pre-delivery remediation and/or article delivery warranty work that found their in the past to the company.The December 1960 Spiegel article hasn't been the only serious open criticism targeting Borgward at the moment: suddenly stridently negative (in the event more succinct) comments also resulted in in the influential mass-market Bild newspapers and in television studies. Critical media commentaries likewise appeared concerning large loans on the Borgward Group provided because of the local Landesbank.It is apparent the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses such as auto manufacturing use his or her expensive machines and tools most efficiently when they use them constantly from full capacity, but the car market in Europe inside 1950s/60s was more seasonal than today, with sales diminishing throughout Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars at the end of 1960 was higher than usual, reflecting ambitious growth strategies, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered by the North American dealers in 1960 (and with the 12, 000 delivered to them) 6, 000 might have for being 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 yr two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in Big apple were overcrowded with unsold Dauphines.
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At the conclusion of December 1960 Borgward approached your banker for a further just one million Marks of credit, the loan to be backed by way of a guarantee from the Bremen local government which initially the Bremen senators decided to provide. However, following the flood connected with critical press comment your senators withdrew their assurance. They now required Carl Borgward to pledge the business 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 four February 1961, thereby averting the bankruptcy of the business.The Bremen Senate furthermore insisted on appointing its very own nominee as chairman in the company’s supervisory board. The man they decided was Johannes Semler whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice to the breadth of Semler’s occupation. He had studied rules at university and worked initially like a lawyer. The scion of a leading Hamburg political family, in 1945 he had himself been a founding person in the centre-right CSU gathering, and was a person in the Bundestag between 1950 along with 1953. Despite his Hamburg sources, Semler was by this time based in Munich, with a network of contacts inside the Bavarian establishment that possibly included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position inside the Bizone. The appointment of Johannes Semler because representative of the Bremen senators to chair the Borgward supervisory mother board would, in retrospect, contribute to the controversy that followed the Borgward personal bankruptcy.
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About 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 a court sanctioned scheme of arrangement enabling the company to continue to trade while at the same time protecting the interests connected with creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of his or her own, never had any intent of allowing the Borgward auto-businesses for you to survive.
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