Borgward can be an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in this 1960s. The Borgward group generated 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 associate Karlheinz L. Knöss, with assistance from China investment, and unveiled the firm's first new car in over 40 years, the BX7 at this 2015 International Motor Show.The origins of Bremen's most significant auto-business go back to 1905 with the institution in nearby Varel with the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself involving "Namag", maker of the Lloyd vehicle. 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 with the late 1920s faced chapter 7. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand the actual scope of his car business, and he took control of computer.
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The first "automobile" Carl Borgward designed was the 1924 Blitzkarren (lightning cart), a sort of small three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered some of them for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the even now three wheeler timber framed synthetic leather bodied 5 as well as 7 hp Goliath Master. Borgward turned his attention to the other businesses and led the development with the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 and in 1939 the brand was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from businesses he had acquired over time to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business during a period of austerity and rationing. For many purposes the companies would be run to be a single entity, but in a business operated by way of a man to whom delegation would not come naturally the proliferation of legal entities even so added unhelpful layers of complexity through the 1950s and encouraged a broadening on the range which finally proved financially unsustainable while using sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.On the list of top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella commenced in 1954. The Isabella would become Borgward's most popular model and remained in production for the life of the company. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (that was also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such seeing that air suspension and intelligent transmission, the company had trouble competing available. While larger companies such as Opel and VW took good thing about economies of scale along with kept their prices low to get market share, Borgward's cost structure was even above necessary for its measurement, as it basically run as four tiny independent companies and never implemented such basic cost reduction strategies as mutual development and parts sharing between your company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced being a water-cooled boxer with entry wheel drive, but plagued with problems including water leakage and gearbox secrets. Lloyd lost money on the car even though it was more expensive as compared to its direct competitors.In 1961, the company was compelled into liquidation by loan companies. Carl Borgward died inside July 1963, still insisting the company ended up technically solvent. This proved to be true inside the sense that after your creditors were paid in full, there was still several. 5 million Marks left from the business.
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Studies of difficulties at Borgward surfaced in a article that appeared with Germany's leading news publication, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly critical of Carl Borgward's organization approach, and included many in the arguments later advanced to describe or justify the corporation's demise. The widest range connected with cars from any company in Germany, produced by three till recently operationally autonomous organizations (Borgward, Goliath and Lloyd) was supporting a turnover regarding only 650 million Grades, placing the overall sales value from the combined Borgward auto companies only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation regarding new and modified products featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") gave rise to components which excessively did not work, broke down or fell apart, resulting in massive payments for pre-delivery remediation and/or publish delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article hasn't been the only serious public criticism targeting Borgward currently: suddenly stridently negative (in case more succinct) comments also resulted in in the influential mass-market Bild magazine and in television stories. Critical media commentaries likewise appeared concerning large loans to the Borgward Group provided with the local Landesbank.It is apparent how the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses such as auto manufacturing use the expensive machines and tools most efficiently whenever they use them constantly from full capacity, but the car market in Europe in the 1950s/60s was more seasonal than today, with sales diminishing throughout Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars at the end of 1960 was higher than usual, reflecting ambitious growth plans, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered with the North American dealers within 1960 (and from the 12, 000 delivered to all of them) 6, 000 might have being taken back following a slump in American demand. (Borgward was not the only European auto maker hit by the North American slump popular for imported cars throughout 1960. In the same season two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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At the conclusion of December 1960 Borgward approached the bank for a further one million Marks of credit ratings, the loan to be backed by a guarantee from the Bremen local government which initially the Bremen senators agreed to provide. However, following the flood associated with critical press comment the senators withdrew their assure. They now required Carl Borgward to pledge the organization itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported in a very still hostile media, Borgward agreed to the senate’s terms on 5 February 1961, thereby averting the bankruptcy of the business.The Bremen Senate in addition insisted on appointing its own nominee as chairman with the company’s supervisory board. The man they decided to go with was Johannes Semler to whom reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice for the breadth of Semler’s career. He had studied regulation at university and worked initially like a lawyer. The scion of a leading Hamburg political family, in 1945 he got himself been a founding member of the centre-right CSU get together, and was a person in the Bundestag between 1950 as well as 1953. Despite his Hamburg roots, Semler was by on this occasion based in Munich, with a network of contacts in the Bavarian establishment that most likely included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position in the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators to be able to chair the Borgward supervisory board would, in retrospect, contribute to the hot debate that followed the Borgward personal bankruptcy.
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With 28 July 1961 Semler, as Chairman of this supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings to the establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the organization to continue to trade while as well protecting the interests of creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November because of 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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