Borgward is usually an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in the actual 1960s. The Borgward group produced four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grand son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the firm's first new car inside over 40 years, the BX7 at the actual 2015 International Motor Show.The origins of Bremen's most significant auto-business get back on 1905 with the establishment in nearby Varel on the "Hansa Automobilgesellschaft" and the muse in Bremen itself involving "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and with the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the actual scope of his car business, and he took control than it.
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The initial "automobile" Carl Borgward intended was the 1924 Blitzkarren (super cart), a sort of little three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success already in the market gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 or perhaps 7 hp Goliath Pioneer. Borgward turned his care about the other businesses in addition to led the development of the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 as well as in 1939 the identify was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from firms he had acquired over the years to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business at the same time of austerity and rationing. For many purposes nokia's would be run as a single entity, but in a business operated by a man to whom delegation did not come naturally the expansion of legal entities on the other hand added unhelpful layers of complexity with the 1950s and encouraged a broadening of the range which finally proved financially unsustainable while using sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.On the list of top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's hottest model and remained in production with the life of the firm. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that was also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such while air suspension and automatic transmission, the company had trouble competing in the market. While larger companies such as Opel and VW took good thing about economies of scale and kept their prices low to realize market share, Borgward's cost structure was even more than necessary for its dimensions, as it basically operated as four tiny independent companies and do not implemented such basic price reduction strategies as joint development and parts sharing between the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced as being a water-cooled boxer with the front wheel drive, but plagued with problems for instance water leakage and gearbox secrets. Lloyd lost money on the car even though it was more expensive when compared with its direct competitors.In 1961, the company was pressured into liquidation by credit card companies. Carl Borgward died with July 1963, still insisting the company was technically solvent. This proved to be true inside sense that after the actual creditors were paid entirely, there was still several. 5 million Marks left over from the business.
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Reviews of difficulties at Borgward surfaced within an article that appeared in Germany's leading news journal, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly critical 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 regarding cars from any supplier in Germany, produced by three right up until recently operationally autonomous organizations (Borgward, Goliath and Lloyd) ended up being supporting a turnover of only 650 million Marks, placing the overall sales value from your combined Borgward auto corporations only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation connected with new and modified products featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") offered rise to components which too much did not work, broke down or droped apart, resulting in massive payments for pre-delivery remediation and/or publish delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article was not the only serious public criticism targeting Borgward at the moment: suddenly stridently negative (in the event that more succinct) comments also resulted in in the influential mass-market Bild paper and in television studies. Critical media commentaries also appeared concerning large loans for the Borgward Group provided through the local Landesbank.It is apparent that this business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses like auto manufacturing use their own expensive machines and tools most efficiently should they use them constantly with full capacity, but the car market in Europe inside 1950s/60s was more temporary than today, with sales diminishing within 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 strategies, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered from the North American dealers with 1960 (and with the 12, 000 delivered to all of them) 6, 000 might have to become taken back following a slump in North american demand. (Borgward was not the sole European auto maker hit by way of North American slump in demand for imported cars while in 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.
At the end of December 1960 Borgward approached the financial institution for a further 1 million Marks of credit, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators opted for provide. However, following the flood involving critical press comment the actual senators withdrew their assure. They now required Carl Borgward to pledge the business itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported inside a still hostile media, Borgward agreed to the particular senate’s terms on 4 February 1961, thereby averting the bankruptcy from the business.The Bremen Senate furthermore insisted on appointing its nominee as chairman of the company’s supervisory board. The man they chose was Johannes Semler which reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice for the breadth of Semler’s job. He had studied rules at university and worked initially being a lawyer. The scion of a respected Hamburg political family, in 1945 he got himself been a founding person in the centre-right CSU get together, and was a member of the Bundestag between 1950 along with 1953. Despite his Hamburg roots, Semler was by this time around based in Munich, with a network of contacts inside Bavarian establishment that likely included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position in the Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators for you to chair the Borgward supervisory panel would, in retrospect, contribute to the controversy that followed the Borgward chapter 7.
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About 28 July 1961 Semler, as Chairman of your supervisory board joined the directors of 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 organization to continue to trade while concurrently protecting the interests of creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of his or her own, never had any purpose of allowing the Borgward auto-businesses to survive.
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