Borgward is usually an automobile manufacturer originally created 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: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grand son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the firm's first new car in over 40 years, the BX7 at your 2015 International Motor Indicate.The origins of Bremen's most significant auto-business return to 1905 with the organization in nearby Varel on the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself associated with "Namag", maker of the Lloyd car. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and by the late 1920s faced chapter 7. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand your scope of his automobile business, and he took control from it.
The first "automobile" Carl Borgward made was the 1924 Blitzkarren (lightning cart), a sort of small three-wheeled van with 2 hp (1. 5 kW), which was an enormous success already in the market gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the still three wheeler timber framed synthetic leather bodied 5 as well as 7 hp Goliath Master. Borgward turned his focus on the other businesses as well as led the development in the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 and in 1939 the brand was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from organizations he had acquired in the past to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business at any given time of austerity and rationing. For many purposes the firms would be run like a single entity, but in a business operated by way of man to whom delegation wouldn't come naturally the growth of legal entities however added unhelpful layers of complexity from the 1950s and encouraged a broadening from the range which in the long run proved financially unsustainable with the sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.One of several top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's most in-demand model and remained in production with the life of the firm. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these learning to be a successful Formula Two power unit (which has been also used by a few 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 available on the market. While larger companies such as Opel and VW took selling point of economies of scale along with kept their prices low to find market share, Borgward's cost structure was even greater than necessary for its size, as it basically controlled as four tiny independent companies and not implemented such basic price tag reduction strategies as mutual development and parts sharing between the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced to be a water-cooled boxer with top wheel drive, but plagued with problems like water leakage and gearbox secrets. Lloyd lost money on the car although it was more expensive than its direct competitors.In 1961, the company was forced into liquidation by credit card companies. Carl Borgward died with July 1963, still insisting the company were being technically solvent. This proved to be true inside the sense that after your creditors were paid in full, there was still four. 5 million Marks remaining from the business.
Reports of difficulties at Borgward surfaced in a article that appeared inside Germany's leading news journal, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly important of Carl Borgward's business approach, and included many from the arguments later advanced to go into detail or justify the business's demise. The widest range connected with cars from any manufacturer in Germany, produced by three until eventually recently operationally autonomous companies (Borgward, Goliath and Lloyd) ended up being supporting a turnover associated with only 650 million Scars, placing the overall sales value through the combined Borgward auto firms only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation associated with new and modified designs featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") presented rise to components which too much did not work, broke down or chop down apart, resulting in massive expenses for pre-delivery remediation and/or post delivery warranty work that found their long ago to the company.The December 1960 Spiegel article wasn't the only serious general public criticism targeting Borgward at the moment: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild newspaper and in television stories. Critical media commentaries likewise appeared concerning large loans towards the Borgward Group provided with 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 his or her expensive machines and tools most efficiently if they use them constantly with full capacity, but the car market in Europe from the 1950s/60s was more seasons than today, with sales diminishing within Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars at the end of 1960 was higher than usual, reflecting ambitious growth strategies, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered with the North American dealers within 1960 (and with the 12, 000 delivered to these individuals) 6, 000 might have to become taken back following a slump in North american demand. (Borgward was not really the only European auto maker hit by way of a North American slump widely used for imported cars in the course of 1960. In the same year 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 the financial institution for a further a single million Marks of credit ratings, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators decided provide. However, following the flood regarding critical press comment the particular senators withdrew their ensure. They now required Carl Borgward to pledge this company 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 particular senate’s terms on 5 February 1961, thereby averting the bankruptcy from the business.The Bremen Senate likewise insisted on appointing a nominee as chairman from the company’s supervisory board. The man they chose was Johannes Semler whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice on the breadth of Semler’s profession. He had studied law at university and worked initially as a lawyer. The scion of a number one Hamburg political family, in 1945 he acquired himself been a founding member of the centre-right CSU party, and was a person in the Bundestag between 1950 as well as 1953. Despite his Hamburg beginnings, Semler was by now based in Munich, with a network of contacts inside Bavarian establishment that possibly included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position inside Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators to help chair the Borgward supervisory aboard would, in retrospect, contribute to the debate that followed the Borgward individual bankruptcy.
In 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors from the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the organization to continue to trade while concurrently protecting the interests associated with creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of her own, never had any objective of allowing the Borgward auto-businesses in order to survive.
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