Borgward is usually an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in the 1960s. The Borgward group generated four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grandson, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the corporation's first new car throughout over 40 years, the BX7 at this 2015 International Motor Show.The origins of Bremen's most significant auto-business get back to 1905 with the organization in nearby Varel on the "Hansa Automobilgesellschaft" and the foundation in Bremen itself regarding "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and because of the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the particular scope of his auto business, and he took control from it.
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The 1st "automobile" Carl Borgward intended was the 1924 Blitzkarren (lightning cart), a sort of teeny three-wheeled van with 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 some of them for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the nevertheless three wheeler timber presented synthetic leather bodied 5 as well as 7 hp Goliath Pioneer. Borgward turned his attention to the other businesses and also led the development from the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 and also in 1939 the brand was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from organizations he had acquired over the years to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business during a period of austerity and rationing. For many purposes the companies would be run to be a single entity, but in a business operated by way of a man to whom delegation didn't come naturally the growth of legal entities even so added unhelpful layers of complexity with the 1950s and encouraged a broadening with the range which in the long run 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 began in 1954. The Isabella would become Borgward's most in-demand model and remained in production for your life of the company. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a 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 has been also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such since air suspension and computerized transmission, the company had trouble competing in the market. While larger companies similar to Opel and VW took benefit of economies of scale as well as kept their prices low to achieve market share, Borgward's cost structure was even higher than necessary for its dimensions, as it basically controlled as four tiny independent companies and don't implemented such basic price reduction strategies as combined development and parts sharing between your company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced being a water-cooled boxer with entrance wheel drive, but plagued with problems such as water leakage and gearbox mistakes. Lloyd lost money on the car even though it was more expensive than its direct competitors.In 1961, the company was required into liquidation by loan companies. Carl Borgward died inside July 1963, still insisting the company have been technically solvent. This proved to be true within the sense that after your creditors were paid completely, there was still several. 5 million Marks left from the business.
Reviews of difficulties at Borgward surfaced in an article that appeared with Germany's leading news journal, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly critical of Carl Borgward's enterprise approach, and included many on the arguments later advanced to spell out or justify the firm's demise. The widest range of cars from any manufacturer in Germany, produced by three right up until recently operationally autonomous companies (Borgward, Goliath and Lloyd) was supporting a turnover involving only 650 million Represents, placing the overall sales value on the combined Borgward auto companies only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation connected with new and modified products featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") provided rise to components which too much did not work, broke down or dropped apart, resulting in massive charges for pre-delivery remediation and/or write-up delivery warranty work that found their made use of to the company.The December 1960 Spiegel article wasn't the only serious public criticism targeting Borgward right now: suddenly stridently negative (in case more succinct) comments also turned up in the influential mass-market Bild classifieds and in television stories. Critical media commentaries also appeared concerning large loans on the Borgward Group provided with 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 his or her expensive machines and tools most efficiently whenever they use them constantly in full capacity, but the car market in Europe within the 1950s/60s was more periodic than today, with sales diminishing throughout Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars towards the end of 1960 was higher than usual, reflecting ambitious growth ideas, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered through the North American dealers with 1960 (and with the 12, 000 delivered to all of them) 6, 000 might have to get taken back following a slump in Us demand. (Borgward was not the sole European auto maker hit by way of a North American slump popular for imported cars in the course of 1960. In the same yr two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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At the conclusion of December 1960 Borgward approached your banker for a further just one million Marks of credit history, the loan to be backed by a guarantee from the Bremen regional government which initially the Bremen senators consented to provide. However, following the flood connected with critical press comment your senators withdrew their guarantee. 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 your senate’s terms on 4 February 1961, thereby averting the bankruptcy with the business.The Bremen Senate also insisted on appointing its own nominee as chairman from the company’s supervisory board. The man they select was Johannes Semler to whom reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice to the breadth of Semler’s career. He had studied law at university and worked initially like a lawyer. The scion of a leading Hamburg political family, in 1945 he acquired himself been a founding member of the centre-right CSU get together, and was a person in the Bundestag between 1950 and 1953. Despite his Hamburg origins, Semler was by on this occasion based in Munich, with a network of contacts within the Bavarian establishment that almost certainly included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position inside Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators to be able to chair the Borgward supervisory table would, in retrospect, contribute to the controversy that followed the Borgward bankruptcy.
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On 28 July 1961 Semler, as Chairman of the supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling this company to continue to trade while concurrently protecting the interests connected with creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of their own, never had any intent of allowing the Borgward auto-businesses for you to survive.
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