Borgward is definitely an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the particular 1960s. The Borgward group developed four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's 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 this 2015 International Motor Present.The origins of Bremen's most significant auto-business get back on 1905 with the institution in nearby Varel in the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself of "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 financial crisis then confronting Germany, the business failed to prosper and from the late 1920s faced chapter 7. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand the actual scope of his car business, and he took control of it.
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The 1st "automobile" Carl Borgward developed was the 1924 Blitzkarren (turbo cart), a sort of teeny three-wheeled van with 3 hp (1. 5 kW), which was an enormous success already in the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the even now three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Founder. Borgward turned his attention to the other businesses as well as led the development on the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 in addition to in 1939 the name was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from corporations he had acquired over time to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business at any given time of austerity and rationing. For many purposes the lenders would be run being a single entity, but in a business operated by a man to whom delegation did not come naturally the proliferation of legal entities nevertheless added unhelpful layers of complexity through the 1950s and encouraged a broadening from the range which ultimately proved financially unsustainable with the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.One of many top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's hottest model and remained in production with the life of the corporation. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (which was also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such because air suspension and computerized transmission, the company had trouble competing in the market. While larger companies just like Opel and VW took benefit from economies of scale along with kept their prices low to get market share, Borgward's cost structure was even greater than necessary for its dimensions, as it basically handled as four tiny independent companies rather than implemented such basic cost reduction strategies as joint development and parts sharing between company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced like a water-cooled boxer with front wheel drive, but plagued with problems for instance water leakage and gearbox errors. Lloyd lost money on the car though it was more expensive compared to its direct competitors.In 1961, the company was pushed into liquidation by loan companies. Carl Borgward died within July 1963, still insisting the company had been technically solvent. This proved to be true inside the sense that after the actual creditors were paid completely, there was still four. 5 million Marks left over from the business.
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Accounts of difficulties at Borgward surfaced in a article that appeared throughout Germany's leading news publication, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly critical of Carl Borgward's organization approach, and included many on the arguments later advanced to describe or justify the firm's demise. The widest range connected with cars from any company in Germany, produced by three right up until recently operationally autonomous firms (Borgward, Goliath and Lloyd) had been supporting a turnover regarding 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 when using increasingly manic proliferation associated with new and modified versions featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") presented rise to components which too often did not work, broke down or fell apart, resulting in massive costs for pre-delivery remediation and/or submit delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article was not the only serious general public criticism targeting Borgward presently: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild newspapers and in television accounts. Critical media commentaries in addition appeared concerning large loans towards the Borgward Group provided because of the local Landesbank.It is apparent the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses for example auto manufacturing use their own expensive machines and tools most efficiently when they use them constantly at full capacity, but the car market in Europe within the 1950s/60s was more in season than today, with sales diminishing throughout Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars towards the end of 1960 was more than usual, reflecting ambitious growth strategies, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered with the North American dealers with 1960 (and of the 12, 000 delivered to these people) 6, 000 might have to be taken back following a slump in American demand. (Borgward was not the only real European auto maker hit by the North American slump in demand for imported cars throughout 1960. In the same yr two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached your banker for a further one particular million Marks of credit rating, the loan to be backed by way of a guarantee from the Bremen regional government which initially the Bremen senators agreed to provide. However, following the flood connected with critical press comment your senators withdrew their promise. 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 in the still hostile media, Borgward agreed to the actual senate’s terms on 5 February 1961, thereby averting the bankruptcy in the business.The Bremen Senate additionally insisted on appointing a unique nominee as chairman on the company’s supervisory board. The man they selected was Johannes Semler to whom reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice towards the breadth of Semler’s profession. He had studied rules at university and worked initially like a lawyer. The scion of a number one Hamburg political family, in 1945 he received himself been a founding person in the centre-right CSU gathering, and was a person in the Bundestag between 1950 and also 1953. Despite his Hamburg beginning, Semler was by this time based in Munich, with a network of contacts within the Bavarian establishment that possibly included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position in the Bizone. The appointment of Johannes Semler because representative of the Bremen senators for you to chair the Borgward supervisory panel would, in retrospect, contribute to the hot debate that followed the Borgward individual bankruptcy.
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With 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings to the establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling this company to continue to trade while while doing so protecting the interests connected with creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his own, never had any goal of allowing the Borgward auto-businesses to help survive.
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