Borgward is surely an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in the actual 1960s. The Borgward group generated four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's grandson, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the firm's first new car in over 40 years, the BX7 at your 2015 International Motor Demonstrate.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 muse in Bremen itself regarding "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economic situation then confronting Germany, the business failed to prosper and because of the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand the particular scope of his car business, and he took control than it.
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The 1st "automobile" Carl Borgward intended was the 1924 Blitzkarren (lightning cart), a sort of tiny three-wheeled van with 3 hp (1. 5 kW), which was an enormous success in the market 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 been able to merge his "Goliath-Werke Borgward & Company. " 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 Leading. Borgward turned his attention to the other businesses and also led the development on the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 and also in 1939 the label was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from corporations he had acquired in the past to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business at the same time of austerity and rationing. For many purposes the firms would be run to be a single entity, but in a business operated by the man to whom delegation did not come naturally the proliferation of legal entities even so added unhelpful layers of complexity throughout the 1950s and encouraged a broadening in the range which ultimately proved financially unsustainable with all the sales volumes achievable. In 1949 company introduced 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 out in 1954. The Isabella would become Borgward's most in-demand model and remained in production to the life of the corporation. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers within the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (that is also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such as air suspension and programmed transmission, the company had trouble competing in the market. While larger companies similar to Opel and VW took benefit from economies of scale and also kept their prices low to find market share, Borgward's cost structure was even more than necessary for its size, as it basically managed as four tiny independent companies and do not 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 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 compared to its direct competitors.In 1961, the company was forced into liquidation by loan companies. Carl Borgward died in July 1963, still insisting the company have been technically solvent. This proved to be true in the sense that after the particular creditors were paid in full, there was still several. 5 million Marks remaining from the business.
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Reviews of difficulties at Borgward surfaced in an article that appeared inside Germany's leading news magazine, “Der Spiegel” on fourteen 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 top cover. It was strongly important of Carl Borgward's organization approach, and included many of the arguments later advanced to spellout or justify the company's demise. The widest range regarding cars from any manufacturer in Germany, produced by three until recently operationally autonomous businesses (Borgward, Goliath and Lloyd) ended up being supporting a turnover connected with only 650 million Represents, placing the overall sales value from your combined Borgward auto organizations only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation of new and modified models featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") provided rise to components which excessively did not work, broke down or fell apart, resulting in massive expenses for pre-delivery remediation and/or submit 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 the moment: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild paper and in television reports. Critical media commentaries likewise appeared concerning large loans towards the Borgward Group provided because of the local Landesbank.It is apparent that the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses for example auto manufacturing use their expensive machines and tools most efficiently as long as they use them constantly from full capacity, but the car market in Europe in the 1950s/60s was more seasons than today, with sales diminishing within Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars by the end of 1960 was beyond usual, reflecting ambitious growth ideas, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered from the North American dealers within 1960 (and on the 12, 000 delivered to all of them) 6, 000 might have to get taken back following a slump in American demand. (Borgward was not really the only European auto maker hit with a North American slump in demand for imported cars during 1960. In the same yr 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 lender for a further a single million Marks of credit ratings, the loan to be backed by way of guarantee from the Bremen regional government which initially the Bremen senators consented to provide. However, following the flood connected with 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 inside a still hostile media, Borgward agreed to this senate’s terms on 5 February 1961, thereby averting the bankruptcy on the business.The Bremen Senate likewise insisted on appointing a nominee as chairman on the company’s supervisory board. The man they chose was Johannes Semler whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice for the breadth of Semler’s occupation. He had studied rules at university and worked initially as being a lawyer. The scion of a top Hamburg political family, in 1945 he acquired himself been a founding person in the centre-right CSU party, and was a member of the Bundestag between 1950 as well as 1953. Despite his Hamburg beginning, Semler was by this time around based in Munich, with a network of contacts from the Bavarian establishment that possibly included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position inside Bizone. The appointment of Johannes Semler because representative of the Bremen senators to be able to chair the Borgward supervisory panel would, in retrospect, contribute to the hot debate that followed the Borgward a bankruptcy proceeding.
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Upon 28 July 1961 Semler, as Chairman of your supervisory board joined the directors from the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while simultaneously protecting the interests of creditors. [16] Two months afterwards, 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 goal of allowing the Borgward auto-businesses to survive.
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