Borgward can be an automobile manufacturer originally set up 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 Chinese investment, and unveiled the firm's first new car with over 40 years, the BX7 at the particular 2015 International Motor Display.The origins of Bremen's most significant auto-business return to 1905 with the place in nearby Varel in the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself connected with "Namag", maker of the Lloyd automobile. 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 because of the late 1920s faced 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 particular scope of his auto business, and he took control than it.
Borgward Isabella Coupe 1958 Auto Coming
The first "automobile" Carl Borgward created was the 1924 Blitzkarren (turbo cart), a sort of very small three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success on the market gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the however three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Leader. Borgward turned his focus on the other businesses along with led the development on the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 and also in 1939 the identify was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from companies he had acquired over the years to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business during a period of austerity and rationing. For many purposes the firms would be run as a single entity, but in a business operated by way of man to whom delegation failed to come naturally the growth of legal entities even so added unhelpful layers of complexity from the 1950s and encouraged a broadening on the range which in the long run proved financially unsustainable using the sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.On the list of top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most popular model and remained in production for your life of the firm. In 1960 the Borgward P100 seemed to be 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 (which has been also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such since air suspension and automatic transmission, the company had trouble competing in the market. While larger companies such as Opel and VW took benefit from economies of scale and also kept their prices low to find market share, Borgward's cost structure was even beyond necessary for its dimensions, as it basically operated as four tiny independent companies and don't implemented such basic expense reduction strategies as articulation development and parts sharing relating to the company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced as a water-cooled boxer with front wheel drive, but plagued with problems such as water leakage and gearbox secrets. Lloyd lost money on the car just about the most was more expensive as compared to its direct competitors.In 1961, the company was compelled into liquidation by creditors. Carl Borgward died in July 1963, still insisting the company have been technically solvent. This proved to be true in the sense that after the actual creditors were paid in full, there was still 5. 5 million Marks left from the business.
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Reports of difficulties at Borgward surfaced in an article that appeared throughout Germany's leading news magazine, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly important of Carl Borgward's company approach, and included many from the arguments later advanced to spellout or justify the business's demise. The widest range connected with cars from any manufacturer in Germany, produced by three until recently operationally autonomous corporations (Borgward, Goliath and Lloyd) has been supporting a turnover of only 650 million Represents, placing the overall sales value in the combined Borgward auto organizations only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation involving new and modified versions featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") provided rise to components which many times did not work, broke down or fell apart, resulting in massive bills for pre-delivery remediation and/or publish delivery warranty work that found their way back to the company.The December 1960 Spiegel article hasn't been the only serious community criticism targeting Borgward presently: suddenly stridently negative (in the event more succinct) comments also turned up in the influential mass-market Bild paper and in television stories. Critical media commentaries furthermore appeared concerning large loans to the Borgward Group provided with the local Landesbank.It is apparent that this business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses for instance auto manufacturing use the expensive machines and tools most efficiently if they use them constantly from 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 their early summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was above usual, reflecting ambitious growth programs, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered from the North American dealers in 1960 (and from the 12, 000 delivered to all of them) 6, 000 might have to become taken back following a slump in United states demand. (Borgward was not the only real European auto maker hit by way of a North American slump successful for imported cars through 1960. In the same yr two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached your banker for a further 1 million Marks of credit history, the loan to be backed by a guarantee from the Bremen regional government which initially the Bremen senators decided provide. However, following the flood associated with 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 inside a still hostile media, Borgward agreed to the senate’s terms on 4 February 1961, thereby averting the bankruptcy from the business.The Bremen Senate furthermore insisted on appointing a unique nominee as chairman from the company’s supervisory board. The man they selected was Johannes Semler who reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice for the breadth of Semler’s job. He had studied legislation at university and worked initially to be a lawyer. The scion of a respected Hamburg political family, in 1945 he got himself been a founding member of the centre-right CSU gathering, and was a member of the Bundestag between 1950 and also 1953. Despite his Hamburg beginnings, Semler was by now based in Munich, with a network of contacts from the Bavarian establishment that likely included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position from the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators to be able to chair the Borgward supervisory panel would, in retrospect, contribute to the controversy that followed the Borgward individual bankruptcy.
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With 28 July 1961 Semler, as Chairman of your 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 a court sanctioned scheme of arrangement enabling the business to continue to trade while simultaneously protecting the interests regarding creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of their own, never had any goal of allowing the Borgward auto-businesses in order to survive.
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