Borgward is usually an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in your 1960s. The Borgward group produced four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's grandson, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the firm's first new car in over 40 years, the BX7 at the 2015 International Motor Show.The origins of Bremen's most significant auto-business resume 1905 with the institution in nearby Varel of the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself associated with "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and with the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand the particular scope of his automobile business, and he took control than it.
The primary "automobile" Carl Borgward designed was the 1924 Blitzkarren (super cart), a sort of small three-wheeled van with 2 hp (1. 5 kW), which was an enormous success available in 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 overseer of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the however three wheeler timber presented synthetic leather bodied 5 as well as 7 hp Goliath Leader. Borgward turned his focus on the other businesses in addition to led the development on the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 and also in 1939 the name 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 companies he had acquired in recent times to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business at a time of austerity and rationing. For many purposes the companies would be run to be a single entity, but in a business operated with a man to whom delegation wouldn't come naturally the spreading of legal entities nevertheless added unhelpful layers of complexity through the 1950s and encouraged a broadening on the range which eventually proved financially unsustainable using the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of the top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's most favored model and remained in production with the life of the organization. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these learning to be a successful Formula Two power unit (that has been also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such since air suspension and automated 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 get market share, Borgward's cost structure was even higher than necessary for its measurement, as it basically run as four tiny independent companies rather than implemented such basic price reduction strategies as shared development and parts sharing between your company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced to be a water-cooled boxer with entry wheel drive, but plagued with problems for instance water leakage and gearbox errors. Lloyd lost money on the car just about the most was more expensive compared to its direct competitors.In 1961, the company was pressured into liquidation by credit card companies. Carl Borgward died in July 1963, still insisting the company were being technically solvent. This proved to be true inside sense that after the creditors were paid completely, there was still some. 5 million Marks left from the business.
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Accounts of difficulties at Borgward surfaced in the article that appeared with Germany's leading news mag, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly critical of Carl Borgward's enterprise approach, and included many from the arguments later advanced to describe or justify the company's demise. The widest range connected with cars from any company in Germany, produced by three until eventually recently operationally autonomous organizations (Borgward, Goliath and Lloyd) ended up being supporting a turnover of only 650 million Scars, placing the overall sales value in the combined Borgward auto organizations only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation connected with new and modified designs featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") presented rise to components which too much did not work, broke down or fell into apart, resulting in massive payments for pre-delivery remediation and/or write-up delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article wasn't the only serious open public criticism targeting Borgward presently: suddenly stridently negative (in case more succinct) comments also turned up in the influential mass-market Bild paper and in television stories. Critical media commentaries likewise appeared concerning large loans on the Borgward Group provided because of the local Landesbank.It is apparent the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses such as auto manufacturing use their expensive machines and tools most efficiently as long as they use them constantly with full capacity, but the car market in Europe inside 1950s/60s was more periodic than today, with sales diminishing in Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars right at the end of 1960 was higher 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 by the North American dealers in 1960 (and of the 12, 000 delivered to them) 6, 000 might have for being taken back following a slump in North american demand. (Borgward was not the only real European auto maker hit with a North American slump in demand 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 The big apple were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached the bank for a further 1 million Marks of credit rating, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators decided to provide. However, following the flood connected with critical press comment the senators withdrew their assure. They now required Carl Borgward to pledge the corporation 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 some February 1961, thereby averting the bankruptcy from the business.The Bremen Senate in addition insisted on appointing its own nominee as chairman in the company’s supervisory board. The man they chose was Johannes Semler which reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice towards breadth of Semler’s profession. He had studied rules at university and worked initially being a lawyer. The scion of a top Hamburg political family, in 1945 he received himself been a founding member of the centre-right CSU get together, and was a person in the Bundestag between 1950 and also 1953. Despite his Hamburg origins, Semler was by these times based in Munich, with a network of contacts within the Bavarian establishment that almost certainly included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position inside the Bizone. The appointment of Johannes Semler because representative of the Bremen senators to help chair the Borgward supervisory table would, in retrospect, contribute to the conflict that followed the Borgward personal bankruptcy.
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About 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors of 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 the organization to continue to trade while simultaneously protecting the interests involving creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of their own, never had any purpose of allowing the Borgward auto-businesses to survive.
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