Borgward is an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in the particular 1960s. The Borgward group developed four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from China investment, and unveiled the corporation's first new car with over 40 years, the BX7 at the 2015 International Motor Display.The origins of Bremen's most significant auto-business return to 1905 with the organization in nearby Varel from the "Hansa Automobilgesellschaft" and the muse in Bremen itself regarding "Namag", maker of the Lloyd auto. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economic situation then confronting Germany, the business failed to prosper and by the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand your scope of his automotive business, and he took control of the usb ports.
The very first "automobile" Carl Borgward intended was the 1924 Blitzkarren (lightning cart), a sort of very small three-wheeled van with only two hp (1. 5 kW), which was an enormous success on the market gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the still three wheeler timber presented synthetic leather bodied 5 or maybe 7 hp Goliath Master. Borgward turned his attention to the other businesses as well as led the development in the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 along with in 1939 the brand was shortened to Borgward 2000. The 2000 model was accompanied by 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 distinct companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business at the same time of austerity and rationing. For many purposes nokia's would be run to be a single entity, but in a business operated by a man to whom delegation failed to come naturally the growth of legal entities nevertheless added unhelpful layers of complexity through the 1950s and encouraged a broadening with the range which in the end proved financially unsustainable while using sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.One of the top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's most in-demand model and remained in production to the life of the organization. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (that was also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such seeing that air suspension and automatic transmission, the company had trouble competing available. While larger companies like Opel and VW took benefit of economies of scale and also kept their prices low to gain market share, Borgward's cost structure was even greater than necessary for its dimension, as it basically controlled as four tiny independent companies and don't implemented such basic price tag reduction strategies as mutual development and parts sharing between your company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced as a water-cooled boxer with top wheel drive, but plagued with problems like water leakage and gearbox errors. Lloyd lost money on the car even though it was more expensive compared to its direct competitors.In 1961, the company was pushed into liquidation by loan companies. Carl Borgward died in July 1963, still insisting the company have been technically solvent. This proved to be true from the sense that after this creditors were paid completely, there was still 4. 5 million Marks remaining from the business.
Reports of difficulties at Borgward surfaced within the article that appeared in Germany's leading news newspaper, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly critical of Carl Borgward's company approach, and included many of the arguments later advanced to spellout or justify the company's demise. The widest range connected with cars from any maker in Germany, produced by three until eventually recently operationally autonomous companies (Borgward, Goliath and Lloyd) has been supporting a turnover regarding only 650 million Signifies, placing the overall sales value from your combined Borgward auto firms only in fifth position 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 improvements ("fast manisch[e] Konstruierwut") afforded rise to components which many times did not work, broke down or dropped apart, resulting in massive charges for pre-delivery remediation and/or article delivery warranty work that found their way back to the company.The December 1960 Spiegel article has not been the only serious public criticism targeting Borgward at this time: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild classifieds and in television accounts. Critical media commentaries furthermore appeared concerning large loans for the Borgward Group provided through the local Landesbank.It is apparent that this business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses such as auto manufacturing use their particular expensive machines and tools most efficiently as long as they use them constantly from full capacity, but the car market in Europe inside the 1950s/60s was more seasonal than today, with sales diminishing in Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars by the end of 1960 was greater than usual, reflecting ambitious growth ideas, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered through the North American dealers with 1960 (and on the 12, 000 delivered to these) 6, 000 might have to be taken back following a slump in American demand. (Borgward was not the sole European auto maker hit by the North American slump sought after for imported cars throughout 1960. In the same season two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
By the end of December 1960 Borgward approached the lending company for a further a single million Marks of credit score, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators decided provide. However, following the flood connected with critical press comment the actual senators withdrew their ensure. They now required Carl Borgward to pledge the corporation itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported within a still hostile media, Borgward agreed to the senate’s terms on 5 February 1961, thereby averting the bankruptcy of the business.The Bremen Senate also insisted on appointing a unique nominee as chairman of 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 vocation. He had studied law at university and worked initially being a lawyer. The scion of a respected Hamburg political family, in 1945 he had himself been a founding member of the centre-right CSU get together, and was a member of the Bundestag between 1950 and 1953. Despite his Hamburg beginning, Semler was by this time around based in Munich, with a network of contacts in the Bavarian establishment that almost certainly included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position from the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators to be able to chair the Borgward supervisory aboard would, in retrospect, contribute to the dispute that followed the Borgward a bankruptcy proceeding.
On 28 July 1961 Semler, as Chairman of the supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling this company to continue to trade while simultaneously protecting the interests involving creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of his own, never had any intention of allowing the Borgward auto-businesses to be able to survive.
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