Borgward is surely an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in this 1960s. The Borgward group created four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grand son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the firm's first new car inside over 40 years, the BX7 at your 2015 International Motor Show.The origins of Bremen's most significant auto-business go back to 1905 with the business in nearby Varel from the "Hansa Automobilgesellschaft" and the foundation in Bremen itself connected with "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and because of the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the particular scope of his automobile business, and he took control of it.
The 1st "automobile" Carl Borgward intended was the 1924 Blitzkarren (lightning cart), a sort of tiny three-wheeled van with 3 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 some of them for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the still three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Master. Borgward turned his awareness of the other businesses along with led the development in the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 as well as in 1939 the identify was shortened to Borgward 2000. The 2000 model was and then 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 over time to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business at the same time of austerity and rationing. For many purposes the businesses would be run to be a single entity, but in a business operated by the man to whom delegation failed to come naturally the growth of legal entities nonetheless added unhelpful layers of complexity over the 1950s and encouraged a broadening from the range which in the long run proved financially unsustainable with all the sales volumes achievable. In 1949 company presented 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 most favored model and remained in production for that life of the firm. In 1960 the Borgward P100 had been 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 to become successful Formula Two power unit (that was also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such seeing that air suspension and automatic transmission, the company had trouble competing available. While larger companies just like Opel and VW took benefit 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 measurement, as it basically managed as four tiny independent companies and do not implemented such basic expense reduction strategies as combined development and parts sharing relating to the company's makes. Borgward suffered quality problems likewise. 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 glitches. Lloyd lost money on the car community . was more expensive compared to its direct competitors.In 1961, the company was compelled into liquidation by lenders. Carl Borgward died inside July 1963, still insisting the company ended up technically solvent. This proved to be true inside the sense that after the particular creditors were paid entirely, there was still 4. 5 million Marks left over from the business.
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Reviews of difficulties at Borgward surfaced within an article that appeared in Germany's leading news mag, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly important of Carl Borgward's business approach, and included many from the arguments later advanced to spell out or justify the business's demise. The widest range connected with cars from any company in Germany, produced by three till recently operationally autonomous corporations (Borgward, Goliath and Lloyd) was supporting a turnover of only 650 million Marks, placing the overall sales value from your combined Borgward auto organizations only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation regarding new and modified types featuring adventurous, but under-developed technological inventions ("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 write-up delivery warranty work that found their in the past to the company.The December 1960 Spiegel article had not been the only serious general public criticism targeting Borgward at this time: suddenly stridently negative (in the event more succinct) comments also resulted in in the influential mass-market Bild newspapers and in television stories. Critical media commentaries furthermore appeared concerning large loans towards Borgward Group provided with the local Landesbank.It is apparent how the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses for example auto manufacturing use their expensive machines and tools most efficiently as long as they use them constantly in full capacity, but the car market in Europe in the 1950s/60s was more in season than today, with sales diminishing within Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars at the conclusion 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 throughout 1960 (and on the 12, 000 delivered to all of them) 6, 000 might have to be taken back following a slump in American demand. (Borgward was not the only European auto maker hit by way of a North American slump widely used for imported cars through 1960. In the same 12 months two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
At the conclusion of December 1960 Borgward approached your banker for a further one particular million Marks of credit score, the loan to be backed by way of a guarantee from the Bremen local government which initially the Bremen senators consented to provide. However, following the flood involving critical press comment the particular senators withdrew their guarantee. They now required Carl Borgward to pledge the business itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported inside a still hostile media, Borgward agreed to this senate’s terms on four February 1961, thereby averting the bankruptcy of the business.The Bremen Senate additionally insisted on appointing its nominee as chairman in the company’s supervisory board. The man they decided was Johannes Semler with whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice towards breadth of Semler’s job. He had studied legislations at university and worked initially like a lawyer. The scion of a number one Hamburg political family, in 1945 he got himself been a founding member of the centre-right CSU party, and was a person in the Bundestag between 1950 and 1953. Despite his Hamburg beginning, Semler was by now based in Munich, with a network of contacts within the Bavarian establishment that most likely included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position from the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators in order to chair the Borgward supervisory panel would, in retrospect, contribute to the controversy that followed the Borgward individual bankruptcy.
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On 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the organization to continue to trade while simultaneously protecting the interests connected with creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of their own, never had any goal of allowing the Borgward auto-businesses to survive.
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