Borgward is usually an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in this 1960s. The Borgward group made four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the businesses first new car throughout over 40 years, the BX7 at the 2015 International Motor Show.The origins of Bremen's most significant auto-business go back to 1905 with the business in nearby Varel of the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself connected with "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and from the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the scope of his auto business, and he took control of computer.
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The first "automobile" Carl Borgward designed was the 1924 Blitzkarren (turbo cart), a sort of small three-wheeled van with only two hp (1. 5 kW), which was an enormous success on the market gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered some of them for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the however three wheeler timber framed synthetic leather bodied 5 or 7 hp Goliath Master. Borgward turned his awareness of the other businesses in addition to led the development with the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 as well as in 1939 the label was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from organizations he had acquired over the years to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business each time of austerity and rationing. For many purposes the lenders would be run being a single entity, but in a business operated by the man to whom delegation wouldn't come naturally the spreading of legal entities however added unhelpful layers of complexity throughout the 1950s and encouraged a broadening on the range which ultimately proved financially unsustainable using the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.Among the top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most in-demand model and remained in production for the life of the organization. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these learning to be a successful Formula Two power unit (which was also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such seeing that air suspension and programmed transmission, the company had trouble competing out there. While larger companies including Opel and VW took benefit from economies of scale as well as kept their prices low to achieve market share, Borgward's cost structure was even beyond necessary for its dimension, as it basically controlled as four tiny independent companies and not implemented such basic expense reduction strategies as mutual development and parts sharing between company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced like a water-cooled boxer with entry wheel drive, but plagued with problems like water leakage and gearbox glitches. Lloyd lost money on the car though it was more expensive when compared with its direct competitors.In 1961, the company was pushed into liquidation by credit card companies. Carl Borgward died within July 1963, still insisting the company ended up technically solvent. This proved to be true in the sense that after the actual creditors were paid completely, there was still 4. 5 million Marks left over from the business.
Studies of difficulties at Borgward surfaced within the article that appeared with Germany's leading news publication, “Der Spiegel” on 14 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 front cover. It was strongly important of Carl Borgward's small business approach, and included many in the arguments later advanced to go into detail or justify the business's demise. The widest range associated with cars from any manufacturer in Germany, produced by three until recently operationally autonomous companies (Borgward, Goliath and Lloyd) has been supporting a turnover connected with only 650 million Signifies, placing the overall sales value through the combined Borgward auto businesses only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation of new and modified designs featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") offered rise to components which all too often did not work, broke down or droped apart, resulting in massive bills for pre-delivery remediation and/or write-up delivery warranty work that found their way back to the company.The December 1960 Spiegel article had not been the only serious public criticism targeting Borgward right now: suddenly stridently negative (in the event more succinct) comments also turned up in the influential mass-market Bild classifieds and in television reports. Critical media commentaries also appeared concerning large loans to the Borgward Group provided through the local Landesbank.It is apparent how the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses for example auto manufacturing use their 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 temporary than today, with sales diminishing with Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars by the end of 1960 was more than usual, reflecting ambitious growth options, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered from the North American dealers with 1960 (and on the 12, 000 delivered to all of them) 6, 000 might have to be taken back following a slump in North american demand. (Borgward was not the only European auto maker hit by the North American slump sought after for imported cars while in 1960. In the same 12 months two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
At the conclusion of December 1960 Borgward approached the financial institution for a further just one million Marks of credit history, the loan to be backed by way of a guarantee from the Bremen regional government which initially the Bremen senators decided to provide. However, following the flood of critical press comment your senators withdrew their assure. They now required Carl Borgward to pledge the organization 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 5 February 1961, thereby averting the bankruptcy from the business.The Bremen Senate likewise insisted on appointing its nominee as chairman on 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 to the breadth of Semler’s profession. He had studied law at university and worked initially like a lawyer. The scion of a respected Hamburg political family, in 1945 he received himself been a founding member of the centre-right CSU celebration, and was a person in the Bundestag between 1950 and also 1953. Despite his Hamburg beginnings, Semler was by this time around based in Munich, with a network of contacts within the Bavarian establishment that possibly included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position inside Bizone. The appointment of Johannes Semler because representative of the Bremen senators in order to chair the Borgward supervisory board would, in retrospect, contribute to the dispute that followed the Borgward bankruptcy.
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On 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the business to continue to trade while while doing so protecting the interests regarding creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his own, never had any goal of allowing the Borgward auto-businesses for you to survive.
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