Borgward is surely an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in your 1960s. The Borgward group generated four brands of cars: 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 investment, and unveiled the company's first new car with over 40 years, the BX7 at the particular 2015 International Motor Present.The origins of Bremen's most significant auto-business return to 1905 with the business in nearby Varel on the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself associated with "Namag", maker of the Lloyd car. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economy then confronting Germany, the business failed to prosper and by the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the scope of his automotive business, and he took control of computer.
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The initial "automobile" Carl Borgward developed was the 1924 Blitzkarren (lightning cart), a sort of little three-wheeled van with two 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 quite a few for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the still three wheeler timber presented synthetic leather bodied 5 or even 7 hp Goliath Master. Borgward turned his focus on the other businesses in addition to led the development with the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 as well as in 1939 the label was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that remained 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 individual companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business during a period of austerity and rationing. For many purposes the companies would be run as a single entity, but in a business operated by way of man to whom delegation didn't come naturally the spreading of legal entities on the other hand added unhelpful layers of complexity through the 1950s and encouraged a broadening of the range which in the end proved financially unsustainable with all the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of the top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most favored model and remained in production for your 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 in the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (which has been also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such since air suspension and automated transmission, the company had trouble competing in the market. While larger companies like Opel and VW took advantage of economies of scale and kept their prices low to find market share, Borgward's cost structure was even beyond necessary for its measurement, as it basically handled as four tiny independent companies and do not implemented such basic price tag reduction strategies as mutual development and parts sharing between company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced to be a water-cooled boxer with top wheel drive, but plagued with problems for example water leakage and gearbox glitches. Lloyd lost money on the car though it was more expensive compared to its direct competitors.In 1961, the company was compelled into liquidation by loan companies. Carl Borgward died within July 1963, still insisting the company ended up technically solvent. This proved to be true from the sense that after the actual creditors were paid entirely, there was still some. 5 million Marks left from the business.
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Reports of difficulties at Borgward surfaced in the article that appeared with Germany's leading news mag, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly important of Carl Borgward's enterprise approach, and included many of the arguments later advanced to describe or justify the firm's demise. The widest range involving cars from any supplier in Germany, produced by three until finally recently operationally autonomous organizations (Borgward, Goliath and Lloyd) had been supporting a turnover associated with only 650 million Represents, placing the overall sales value from your combined Borgward auto organizations only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation involving new and modified types featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") provided rise to components which too much did not work, broke down or droped apart, resulting in massive charges for pre-delivery remediation and/or publish delivery warranty work that found their made use of to the company.The December 1960 Spiegel article had not been the only serious public criticism targeting Borgward right now: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild magazine and in television reports. Critical media commentaries furthermore appeared concerning large loans towards the Borgward Group provided from the local Landesbank.It is apparent the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses such as auto manufacturing use his or her expensive machines and tools most efficiently as long as they use them constantly from full capacity, but the car market in Europe within the 1950s/60s was more periodic than today, with sales diminishing inside Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars at the end of 1960 was more than usual, reflecting ambitious growth options, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered by the North American dealers within 1960 (and of the 12, 000 delivered to these) 6, 000 might have to become taken back following a slump in American demand. (Borgward was not the sole European auto maker hit with a North American slump successful for imported cars while in 1960. In the same yr two ships carrying Renault Dauphines were turned the government financial aid 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 your banker for a further one particular million Marks of credit score, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators agreed to provide. However, following the flood of critical press comment this senators withdrew their ensure. They now required Carl Borgward to pledge the corporation itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in the still hostile media, Borgward agreed to the senate’s terms on four February 1961, thereby averting the bankruptcy from the business.The Bremen Senate in addition insisted on appointing a nominee as chairman of the company’s supervisory board. The man they selected was Johannes Semler with whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice on the breadth of Semler’s occupation. He had studied legislation at university and worked initially as a lawyer. The scion of a number one Hamburg political family, in 1945 he received himself been a founding member of the centre-right CSU get together, and was a member of the Bundestag between 1950 and also 1953. Despite his Hamburg sources, Semler was by this time around based in Munich, with a network of contacts in the Bavarian establishment that probably included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position inside the Bizone. The appointment of Johannes Semler because representative of the Bremen senators to be able to chair the Borgward supervisory board would, in retrospect, contribute to the conflict that followed the Borgward chapter 7.
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With 28 July 1961 Semler, as Chairman of the supervisory board joined the directors of 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 business enterprise to continue to trade while at the same time 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 from the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his own, never had any goal of allowing the Borgward auto-businesses to help survive.
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