Borgward can be an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in this 1960s. The Borgward group created four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's grandson, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the company'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 go back to 1905 with the place in nearby Varel from the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself regarding "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economic situation then confronting Germany, the business failed to prosper and because of the late 1920s faced chapter 7. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand this scope of his vehicle business, and he took control of it.
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The initial "automobile" Carl Borgward made was the 1924 Blitzkarren (lightning cart), a sort of tiny three-wheeled van with 3 hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered many 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 & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the however three wheeler timber framed synthetic leather bodied 5 or perhaps 7 hp Goliath Leading. Borgward turned his attention to the other businesses as well as led the development from the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 in addition to in 1939 the brand was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from corporations he had acquired through the years to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business at any given time of austerity and rationing. For many purposes the companies would be run as being a single entity, but in a business operated by the man to whom delegation didn't come naturally the growth of legal entities however added unhelpful layers of complexity throughout the 1950s and encouraged a broadening in the range which ultimately proved financially unsustainable while using the sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.One of many top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most in-demand model and remained in production to the life of the firm. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (that was also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such while air suspension and intelligent transmission, the company had trouble competing available. While larger companies such as Opel and VW took benefit of economies of scale and kept their prices low to gain market share, Borgward's cost structure was even more than necessary for its dimensions, as it basically run as four tiny independent companies rather than implemented such basic expense reduction strategies as shared development and parts sharing between company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced being a water-cooled boxer with top wheel drive, but plagued with problems like water leakage and gearbox glitches. Lloyd lost money on the car community . was more expensive when compared with its direct competitors.In 1961, the company was compelled into liquidation by creditors. Carl Borgward died with July 1963, still insisting the company were being technically solvent. This proved to be true in the sense that after this creditors were paid in full, there was still several. 5 million Marks left over from the business.
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Reports of difficulties at Borgward surfaced within the article that appeared throughout Germany's leading news magazine, “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 the front cover. It was strongly vital of Carl Borgward's small business approach, and included many in the arguments later advanced to go into detail or justify the corporation's demise. The widest range involving cars from any maker in Germany, produced by three till recently operationally autonomous corporations (Borgward, Goliath and Lloyd) had been supporting a turnover of only 650 million Grades, placing the overall sales value on the combined Borgward auto companies 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 models featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") presented rise to components which many times did not work, broke down or chop down apart, resulting in massive costs for pre-delivery remediation and/or article delivery warranty work that found their made use of to the company.The December 1960 Spiegel article had not been the only serious open public criticism targeting Borgward right now: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild paper and in television reports. Critical media commentaries additionally appeared concerning large loans towards Borgward Group provided by the local Landesbank.It is apparent that this business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses like auto manufacturing use their expensive machines and tools most efficiently as long as they use them constantly with full capacity, but the car market in Europe inside the 1950s/60s was more seasons than today, with sales diminishing inside Winter, then peaking in early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was above usual, reflecting ambitious growth options, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered from the North American dealers with 1960 (and from the 12, 000 delivered to all of them) 6, 000 might have for being taken back following a slump in North american demand. (Borgward was not really the only European auto maker hit by the North American slump widely used for imported cars in the course of 1960. In the same season two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the lender for a further a single million Marks of credit history, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators decided to provide. However, following the flood of critical press comment this senators withdrew their guarantee. They now required Carl Borgward to pledge this company 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 the particular senate’s terms on 4 February 1961, thereby averting the bankruptcy with the business.The Bremen Senate in addition insisted on appointing its very own nominee as chairman of the company’s supervisory board. The man they decided to go with was Johannes Semler to 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 regulation at university and worked initially as being a lawyer. The scion of a top Hamburg political family, in 1945 he received himself been a founding member of the centre-right CSU party, and was a member of the Bundestag between 1950 as well as 1953. Despite his Hamburg beginning, 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 in a very top administrative position inside the Bizone. The appointment of Johannes Semler because representative of the Bremen senators to chair the Borgward supervisory table would, in retrospect, contribute to the conflict that followed the Borgward bankruptcy.
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Upon 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors from the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling this company to continue to trade while simultaneously protecting the interests of creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of their own, never had any purpose of allowing the Borgward auto-businesses in order to survive.
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