Borgward is surely an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in this 1960s. The Borgward group created four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's grandson, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the businesses first new car inside over 40 years, the BX7 at the particular 2015 International Motor Show.The origins of Bremen's most significant auto-business return to 1905 with the organization in nearby Varel in the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself of "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 economy then confronting Germany, the business failed to prosper and with the late 1920s faced chapter 7. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the particular scope of his automotive business, and he took control than it.
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The very first "automobile" Carl Borgward created was the 1924 Blitzkarren (lightning cart), a sort of little three-wheeled van with only two hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 or maybe 7 hp Goliath Founder. Borgward turned his attention to the other businesses in addition to led the development of the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 along with in 1939 the name was shortened to Borgward 2000. The 2000 model was and then 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 businesses he had acquired in the past to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business each time of austerity and rationing. For many purposes the firms would be run being a single entity, but in a business operated by a man to whom delegation wouldn't come naturally the expansion of legal entities nevertheless added unhelpful layers of complexity through the 1950s and encouraged a broadening from the range which in the end proved financially unsustainable with the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.Among the top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's hottest model and remained in production to the life of the company. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers in the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that has been also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such while air suspension and intelligent transmission, the company had trouble competing in the market. While larger companies just like Opel and VW took good thing about economies of scale along with kept their prices low to achieve market share, Borgward's cost structure was even greater than necessary for its sizing, as it basically operated as four tiny independent companies and not implemented such basic cost reduction strategies as articulation 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 entrance wheel drive, but plagued with problems such as water leakage and gearbox snags. Lloyd lost money on the car just about the most was more expensive than its direct competitors.In 1961, the company was required into liquidation by loan companies. Carl Borgward died within July 1963, still insisting the company was technically solvent. This proved to be true from the sense that after the particular creditors were paid 100 %, there was still four. 5 million Marks left from the business.
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Reviews of difficulties at Borgward surfaced in an article that appeared in Germany's leading news journal, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted with 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 on the arguments later advanced to spellout or justify the corporation's demise. The widest range associated with cars from any producer in Germany, produced by three until recently operationally autonomous firms (Borgward, Goliath and Lloyd) has been supporting a turnover involving only 650 million Grades, placing the overall sales value from your combined Borgward auto firms only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation associated with new and modified versions featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") provided rise to components which all too often did not work, broke down or fell apart, resulting in massive payments for pre-delivery remediation and/or post delivery warranty work that found their long ago to the company.The December 1960 Spiegel article was not the only serious general public criticism targeting Borgward right now: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild magazine and in television stories. Critical media commentaries in addition appeared concerning large loans towards Borgward Group provided by the local Landesbank.It is apparent the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses for example auto manufacturing use the expensive machines and tools most efficiently if they use them constantly at full capacity, but the car market in Europe inside the 1950s/60s was more seasons than today, with sales diminishing in Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars right at the end of 1960 was beyond usual, reflecting ambitious growth ideas, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered from the North American dealers throughout 1960 (and of the 12, 000 delivered to all of them) 6, 000 might have for being taken back following a slump in American demand. (Borgward was not the only real European auto maker hit by a North American slump popular for imported cars throughout 1960. In the same yr two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached the lending company for a further 1 million Marks of credit ratings, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators decided provide. However, following the flood associated with critical press comment the actual senators withdrew their assurance. They now required Carl Borgward to pledge the corporation 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 your senate’s terms on some February 1961, thereby averting the bankruptcy from the business.The Bremen Senate likewise insisted on appointing a unique nominee as chairman in 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 straight into English, does less than full justice for the breadth of Semler’s job. He had studied law at university and worked initially being a lawyer. The scion of a leading Hamburg political family, in 1945 he experienced himself been a founding member of the centre-right CSU party, and was a member of the Bundestag between 1950 in addition to 1953. Despite his Hamburg roots, Semler was by now based in Munich, with a network of contacts inside the Bavarian establishment that probably included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position inside the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators to help chair the Borgward supervisory board would, in retrospect, contribute to the hot debate that followed the Borgward individual bankruptcy.
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On 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 your establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling this company to continue to trade while concurrently protecting the interests associated with creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of their own, never had any intention of allowing the Borgward auto-businesses for you to survive.
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