Borgward is usually an automobile manufacturer originally founded 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 vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grandson, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the business's first new car in over 40 years, the BX7 at the particular 2015 International Motor Indicate.The origins of Bremen's most significant auto-business resume 1905 with the establishment in nearby Varel on the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself of "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economic situation then confronting Germany, the business failed to prosper and through the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand the particular scope of his automotive business, and he took control of computer.
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The primary "automobile" Carl Borgward developed was the 1924 Blitzkarren (turbo cart), a sort of tiny three-wheeled van with two 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 most of them for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the nevertheless three wheeler timber presented synthetic leather bodied 5 or even 7 hp Goliath Master. Borgward turned his attention to the other businesses and led the development from the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 in addition to in 1939 the name 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 many of the brand names from organizations he had acquired over time to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business at the same time of austerity and rationing. For many purposes the businesses would be run as a single entity, but in a business operated by the man to whom delegation would not come naturally the expansion of legal entities nevertheless added unhelpful layers of complexity over the 1950s and encouraged a broadening in the range which ultimately proved financially unsustainable while using the sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.On the list of top engineers at Borgward coming from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's most popular model and remained in production for that life of the organization. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that has been also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such seeing that air suspension and computerized transmission, the company had trouble competing in the market. While larger companies just like Opel and VW took benefit of economies of scale and kept their prices low to achieve market share, Borgward's cost structure was even higher than necessary for its measurement, as it basically handled as four tiny independent companies and do not implemented such basic price reduction strategies as joint development and parts sharing involving the company's makes. Borgward suffered quality problems also. 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 even though it was more expensive when compared with its direct competitors.In 1961, the company was compelled into liquidation by creditors. Carl Borgward died within July 1963, still insisting the company had been technically solvent. This proved to be true in the sense that after the actual creditors were paid completely, there was still 5. 5 million Marks remaining from the business.
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Reviews of difficulties at Borgward surfaced in an article that appeared within Germany's leading news magazine, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly crucial of Carl Borgward's small business approach, and included many in the arguments later advanced to explain or justify the businesses demise. The widest range involving cars from any company in Germany, produced by three right up until recently operationally autonomous firms (Borgward, Goliath and Lloyd) was supporting a turnover connected with only 650 million Scars, placing the overall sales value from your combined Borgward auto companies only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation regarding new and modified designs featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") provided rise to components which too often did not work, broke down or fell apart, resulting in massive payments for pre-delivery remediation and/or post delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article was not the only serious general public criticism targeting Borgward currently: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild newspapers and in television accounts. Critical media commentaries additionally appeared concerning large loans for the Borgward Group provided with the local Landesbank.It is apparent the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses including auto manufacturing use their own expensive machines and tools most efficiently as long as they use them constantly with full capacity, but the car market in Europe within the 1950s/60s was more seasons than today, with sales diminishing within Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars by the end of 1960 was greater than usual, reflecting ambitious growth strategies, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered with the North American dealers with 1960 (and in the 12, 000 delivered to these) 6, 000 might have for being taken back following a slump in American demand. (Borgward was not the sole European auto maker hit by the North American slump sought after for imported cars through 1960. In the same season two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached the lender for a further one particular million Marks of credit history, the loan to be backed by a guarantee from the Bremen local government which initially the Bremen senators consented to provide. However, following the flood of critical press comment your senators withdrew their assurance. They now required Carl Borgward to pledge the business itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported in a still hostile media, Borgward agreed to this senate’s terms on 5 February 1961, thereby averting the bankruptcy with the business.The Bremen Senate in addition insisted on appointing a unique nominee as chairman in 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 in English, does less than full justice to the breadth of Semler’s vocation. He had studied law at university and worked initially like a lawyer. The scion of a number one Hamburg political family, in 1945 he experienced himself been a founding person in the centre-right CSU celebration, and was a person in the Bundestag between 1950 and also 1953. Despite his Hamburg beginnings, Semler was by on this occasion based in Munich, with a network of contacts inside the Bavarian establishment that probably included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position from the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators to chair the Borgward supervisory aboard would, in retrospect, contribute to the conflict that followed the Borgward chapter 7.
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Upon 28 July 1961 Semler, as Chairman of the supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling this company to continue to trade while concurrently protecting the interests involving creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his or her own, never had any purpose of allowing the Borgward auto-businesses to survive.
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