Borgward can be an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in this 1960s. The Borgward group created four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's son, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the businesses first new car throughout over 40 years, the BX7 at the particular 2015 International Motor Display.The origins of Bremen's most significant auto-business resume 1905 with the business in nearby Varel of the "Hansa Automobilgesellschaft" and the muse in Bremen itself regarding "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to 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 on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand this scope of his vehicle business, and he took control of it.
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The initial "automobile" Carl Borgward designed was the 1924 Blitzkarren (turbo cart), a sort of very small 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 purchased for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the nonetheless three wheeler timber presented synthetic leather bodied 5 or perhaps 7 hp Goliath Leader. Borgward turned his awareness of the other businesses in addition to led the development in the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 as well as in 1939 the label was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from companies he had acquired in recent times to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business at a time of austerity and rationing. For many purposes the lenders would be run being a single entity, but in a business operated by way of a man to whom delegation failed to come naturally the growth of legal entities nonetheless added unhelpful layers of complexity over 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 presented the Borgward Hansa 1500.One of many top engineers at Borgward by 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 for the life of the firm. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (that has been also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such because air suspension and intelligent transmission, the company had trouble competing in the market. While larger companies such as Opel and VW took advantage of economies of scale along with kept their prices low to realize market share, Borgward's cost structure was even higher than necessary for its measurement, as it basically controlled as four tiny independent companies and never implemented such basic charge reduction strategies as combined development and parts sharing between your company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced as 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 compared to its direct competitors.In 1961, the company was required into liquidation by collectors. Carl Borgward died within July 1963, still insisting the company had been technically solvent. This proved to be true within the sense that after your creditors were paid in full, there was still 5. 5 million Marks left over from the business.
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Accounts of difficulties at Borgward surfaced within the article that appeared in Germany's leading news publication, “Der Spiegel” on age 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 top cover. It was strongly crucial of Carl Borgward's small business approach, and included many on the arguments later advanced to spell out or justify the firm's demise. The widest range regarding cars from any company in Germany, produced by three till recently operationally autonomous firms (Borgward, Goliath and Lloyd) ended up being supporting a turnover connected with only 650 million Represents, placing the overall sales value from the combined Borgward auto companies 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 connected with new and modified products featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") afforded rise to components which too often did not work, broke down or fell apart, resulting in massive bills for pre-delivery remediation and/or post delivery warranty work that found their in the past to the company.The December 1960 Spiegel article has not been the only serious community criticism targeting Borgward presently: suddenly stridently negative (in the event more succinct) comments also resulted in in the influential mass-market Bild paper and in television accounts. Critical media commentaries additionally appeared concerning large loans for the Borgward Group provided by the local Landesbank.It is apparent how the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses such as auto manufacturing use his or her expensive machines and tools most efficiently whenever they use them constantly at full capacity, but the car market in Europe within the 1950s/60s was more temporary than today, with sales diminishing within Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars towards the end of 1960 was beyond usual, reflecting ambitious growth strategies, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered with the North American dealers within 1960 (and of the 12, 000 delivered to these) 6, 000 might have for being taken back following a slump in Us demand. (Borgward was not the one European auto maker hit by way of a North American slump sought after for imported cars while in 1960. In the same 12 months two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the lender for a further one million Marks of credit, the loan to be backed by way of a guarantee from the Bremen regional government which initially the Bremen senators decided provide. However, following the flood connected with critical press comment this senators withdrew their ensure. They now required Carl Borgward to pledge this company itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in a still hostile media, Borgward agreed to this senate’s terms on four February 1961, thereby averting the bankruptcy in the business.The Bremen Senate in addition insisted on appointing a nominee as chairman with the company’s supervisory board. The man they selected was Johannes Semler which reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice towards breadth of Semler’s profession. He had studied legislations at university and worked initially like a lawyer. The scion of a top Hamburg political family, in 1945 he got himself been a founding person in the centre-right CSU party, and was a person in the Bundestag between 1950 along with 1953. Despite his Hamburg beginnings, Semler was by this time around based in Munich, with a network of contacts inside Bavarian establishment that probably included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position within the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators in order to chair the Borgward supervisory mother board would, in retrospect, contribute to the hot debate that followed the Borgward personal bankruptcy.
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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 to the establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling the business to continue to trade while simultaneously protecting the interests of creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of their own, never had any goal of allowing the Borgward auto-businesses to help survive.
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