Borgward can be an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in this 1960s. The Borgward group made four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grand son, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the firm's first new car within over 40 years, the BX7 at the particular 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business get back to 1905 with the organization in nearby Varel in the "Hansa Automobilgesellschaft" and the walls in Bremen itself connected with "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and from the late 1920s faced 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 actual scope of his auto business, and he took control of the usb ports.
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The very first "automobile" Carl Borgward designed was the 1924 Blitzkarren (turbo cart), a sort of small three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the still three wheeler timber framed synthetic leather bodied 5 or even 7 hp Goliath Leading. Borgward turned his focus on the other businesses and also 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 stayed in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from organizations he had acquired over time to found three different 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 businesses would be run to be a single entity, but in a business operated by way of a man to whom delegation didn't come naturally the proliferation of legal entities even so added unhelpful layers of complexity throughout the 1950s and encouraged a broadening on the range which in the long run proved financially unsustainable while using the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of several top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's most favored model and remained in production for the life of the firm. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that was also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such as air suspension and intelligent transmission, the company had trouble competing out there. While larger companies like Opel and VW took benefit from economies of scale along with kept their prices low to achieve market share, Borgward's cost structure was even beyond necessary for its dimensions, as it basically handled as four tiny independent companies and don't implemented such basic charge reduction strategies as shared development and parts sharing between company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced like a water-cooled boxer with entry wheel drive, but plagued with problems for example water leakage and gearbox snags. Lloyd lost money on the car although it was more expensive when compared with 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 have been technically solvent. This proved to be true inside the sense that after this creditors were paid 100 %, there was still four. 5 million Marks remaining from the business.
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Studies of difficulties at Borgward surfaced in an article that appeared with Germany's leading news mag, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly crucial of Carl Borgward's organization approach, and included many of the arguments later advanced to explain or justify the firm's demise. The widest range involving cars from any producer in Germany, produced by three until finally recently operationally autonomous companies (Borgward, Goliath and Lloyd) had been supporting a turnover associated with only 650 million Represents, placing the overall sales value from the combined Borgward auto organizations only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation associated with new and modified designs featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") gave rise to components which all too often did not work, broke down or fell into apart, resulting in massive costs for pre-delivery remediation and/or publish delivery warranty work that found their made use of to the company.The December 1960 Spiegel article hasn't been the only serious general public criticism targeting Borgward presently: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild magazine and in television studies. Critical media commentaries likewise appeared concerning large loans on the Borgward Group provided through the local Landesbank.It is apparent that the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses including auto manufacturing use their particular expensive machines and tools most efficiently should they use them constantly at full capacity, but the car market in Europe inside 1950s/60s was more seasonal than today, with sales diminishing in Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars at the end of 1960 was above usual, reflecting ambitious growth strategies, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered with the North American dealers within 1960 (and on the 12, 000 delivered to them) 6, 000 might have for being taken back following a slump in United states demand. (Borgward was not the only real European auto maker hit by a North American slump in demand for imported cars while in 1960. In the same calendar year two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in Big apple were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached the lending company for a further 1 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 decided provide. However, following the flood connected with critical press comment the actual senators withdrew their promise. They now required Carl Borgward to pledge the organization itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported within a still hostile media, Borgward agreed to the actual senate’s terms on four February 1961, thereby averting the bankruptcy on the business.The Bremen Senate furthermore insisted on appointing a nominee as chairman from the company’s supervisory board. The man they selected was Johannes Semler which reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice on the breadth of Semler’s job. He had studied legislations at university and worked initially as being a lawyer. The scion of a respected Hamburg political family, in 1945 he acquired himself been a founding person in the centre-right CSU celebration, and was a person in the Bundestag between 1950 in addition to 1953. Despite his Hamburg beginning, Semler was by this time based in Munich, with a network of contacts in the Bavarian establishment that almost certainly included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position within the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators to help chair the Borgward supervisory mother board would, in retrospect, contribute to the dispute that followed the Borgward chapter 7.
About 28 July 1961 Semler, as Chairman of your supervisory board joined the directors on 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 business enterprise to continue to trade while as well protecting the interests of creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of his own, never had any objective of allowing the Borgward auto-businesses in order to survive.
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