Borgward is an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in your 1960s. The Borgward group made four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grand son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the business's first new car within over 40 years, the BX7 at the 2015 International Motor Indicate.The origins of Bremen's most significant auto-business resume 1905 with the organization in nearby Varel from the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself connected with "Namag", maker of the Lloyd vehicle. 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 with the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the scope of his auto business, and he took control of it.
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The primary "automobile" Carl Borgward designed was the 1924 Blitzkarren (turbo cart), a sort of little three-wheeled van with 2 hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered some of them for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 or maybe 7 hp Goliath Founder. Borgward turned his care about the other businesses along with led the development in the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 and in 1939 the identify was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from firms he had acquired over the years to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business each time of austerity and rationing. For many purposes the lenders would be run as a single entity, but in a business operated by the man to whom delegation would not come naturally the spreading of legal entities however added unhelpful layers of complexity throughout the 1950s and encouraged a broadening with the range which eventually proved financially unsustainable while using the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.On the list of top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella commenced in 1954. The Isabella would become Borgward's most widely used model and remained in production for that life of the business. In 1960 the Borgward P100 seemed to be 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 transforming into a successful Formula Two power unit (which was also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such since air suspension and computerized transmission, the company had trouble competing out there. While larger companies similar to Opel and VW took selling point of economies of scale along with kept their prices low to gain market share, Borgward's cost structure was even greater than necessary for its dimensions, as it basically controlled as four tiny independent companies and never implemented such basic cost reduction strategies as mutual development and parts sharing relating to the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced to be a water-cooled boxer with entry wheel drive, but plagued with problems for instance water leakage and gearbox secrets. Lloyd lost money on the car just about the most was more expensive than its direct competitors.In 1961, the company was required into liquidation by loan companies. Carl Borgward died throughout July 1963, still insisting the company had been technically solvent. This proved to be true inside sense that after the particular creditors were paid fully, there was still four. 5 million Marks remaining from the business.
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Accounts of difficulties at Borgward surfaced in an article that appeared throughout Germany's leading news journal, “Der Spiegel” on fourteen 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 entrance cover. It was strongly critical of Carl Borgward's enterprise approach, and included many with the arguments later advanced to explain or justify the company's demise. The widest range connected with cars from any company in Germany, produced by three until eventually recently operationally autonomous companies (Borgward, Goliath and Lloyd) ended up being supporting a turnover connected with only 650 million Scars, placing the overall sales value on the combined Borgward auto companies only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation associated with new and modified models featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") presented rise to components which too much did not work, broke down or fell into apart, resulting in massive bills for pre-delivery remediation and/or publish delivery warranty work that found their in the past to the company.The December 1960 Spiegel article was not the only serious public criticism targeting Borgward at the moment: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild newspaper and in television reviews. Critical media commentaries in addition appeared concerning large loans on the Borgward Group provided because of the local Landesbank.It is apparent that this business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses such as auto manufacturing use their expensive machines and tools most efficiently when they use them constantly from full capacity, but the car market in Europe inside the 1950s/60s was more seasonal than today, with sales diminishing inside Winter, then peaking in early summer months: Borgward’s inventory of unsold cars towards the end of 1960 was higher than usual, reflecting ambitious growth options, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered with the North American dealers inside 1960 (and from the 12, 000 delivered to these people) 6, 000 might have being taken back following a slump in Us demand. (Borgward was not the only European auto maker hit with a North American slump popular for imported cars throughout 1960. In the same year two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached the financial institution for a further one particular million Marks of credit history, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators consented to provide. However, following the flood involving critical press comment your senators withdrew their promise. They now required Carl Borgward to pledge this company 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 your senate’s terms on some February 1961, thereby averting the bankruptcy from the business.The Bremen Senate furthermore insisted on appointing its nominee as chairman on the company’s supervisory board. The man they chose was Johannes Semler 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 profession. He had studied legislations at university and worked initially to be a lawyer. The scion of a respected Hamburg political family, in 1945 he had himself been a founding member of the centre-right CSU bash, and was a person in the Bundestag between 1950 along with 1953. Despite his Hamburg roots, Semler was by on this occasion based in Munich, with a network of contacts inside the Bavarian establishment that possibly included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position inside Bizone. The appointment of Johannes Semler because the representative of the Bremen senators for you to chair the Borgward supervisory board would, in retrospect, contribute to the debate that followed the Borgward a bankruptcy proceeding.
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With 28 July 1961 Semler, as Chairman of your supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided to get a court sanctioned scheme of arrangement enabling this company to continue to trade while simultaneously protecting the interests associated with creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November by 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 for you to survive.
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