Borgward is definitely an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in the particular 1960s. The Borgward group made four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the businesses first new car within over 40 years, the BX7 at this 2015 International Motor Display.The origins of Bremen's most significant auto-business return to 1905 with the organization in nearby Varel with the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself of "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 the opportunity greatly to expand the particular scope of his car business, and he took control than it.
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The first "automobile" Carl Borgward intended was the 1924 Blitzkarren (super cart), a sort of little three-wheeled van with only two hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget purchased for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the nevertheless three wheeler timber framed synthetic leather bodied 5 or maybe 7 hp Goliath Pioneer. Borgward turned his attention to the other businesses in addition to led the development in the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 and in 1939 the label was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from corporations he had acquired over the years to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business during a period of austerity and rationing. For many purposes the firms would be run as being a single entity, but in a business operated with a man to whom delegation did not come naturally the growth of legal entities on the other hand added unhelpful layers of complexity through the 1950s and encouraged a broadening in the range which eventually proved financially unsustainable while using sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.Among the top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's hottest model and remained in production for the life of the firm. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a type 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 some 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 including Opel and VW took good thing about economies of scale in addition to kept their prices low to get market share, Borgward's cost structure was even greater than necessary for its sizing, as it basically handled as four tiny independent companies and not implemented such basic cost reduction strategies as mutual development and parts sharing relating to the company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced like a water-cooled boxer with front wheel drive, but plagued with problems for example water leakage and gearbox secrets. Lloyd lost money on the car though it was more expensive than its direct competitors.In 1961, the company was required into liquidation by lenders. Carl Borgward died with July 1963, still insisting the company ended up technically solvent. This proved to be true in the sense that after the particular creditors were paid fully, there was still some. 5 million Marks left from the business.
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Studies of difficulties at Borgward surfaced in the article that appeared in Germany's leading news journal, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly essential of Carl Borgward's small business approach, and included many in the arguments later advanced to spell out or justify the business's demise. The widest range involving cars from any supplier in Germany, produced by three till recently operationally autonomous firms (Borgward, Goliath and Lloyd) ended up being supporting a turnover regarding only 650 million Grades, 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 innovative developments ("fast manisch[e] Konstruierwut") gave rise to components which many times did not work, broke down or fell into apart, resulting in massive costs for pre-delivery remediation and/or submit delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article has not been the only serious open criticism targeting Borgward at the moment: suddenly stridently negative (in case more succinct) comments also resulted in in the influential mass-market Bild newspapers and in television reports. Critical media commentaries also appeared concerning large loans on the Borgward Group provided by 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 the expensive machines and tools most efficiently should they use them constantly from full capacity, but the car market in Europe inside the 1950s/60s was more seasons than today, with sales diminishing throughout Winter, then peaking in early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was higher than usual, reflecting ambitious growth plans, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered because of the North American dealers throughout 1960 (and from the 12, 000 delivered to them) 6, 000 might have to be taken back following a slump in Us demand. (Borgward was not the only European auto maker hit by way of a North American slump successful for imported cars while in 1960. In the same year two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached the financial institution for a further 1 million Marks of credit ratings, the loan to be backed by the guarantee from the Bremen local government which initially the Bremen senators opted for provide. However, following the flood regarding critical press comment the particular senators withdrew their promise. They now required Carl Borgward to pledge the company 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 the senate’s terms on several February 1961, thereby averting the bankruptcy from the business.The Bremen Senate additionally insisted on appointing a unique nominee as chairman with the company’s supervisory board. The man they decided was Johannes Semler with whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice on the breadth of Semler’s career. He had studied regulation at university and worked initially like a lawyer. The scion of a respected 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 1953. Despite his Hamburg beginning, Semler was by these times based in Munich, with a network of contacts within the Bavarian establishment that most likely included fellow CSU politician plus 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 for the reason that representative of the Bremen senators to help chair the Borgward supervisory board would, in retrospect, contribute to the hot debate that followed the Borgward bankruptcy.
On 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided to get a court sanctioned scheme of arrangement enabling the organization to continue to trade while at the same time protecting the interests regarding creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of his or her own, never had any purpose of allowing the Borgward auto-businesses to help survive.
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