Borgward can be an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the actual 1960s. The Borgward group developed four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grand son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from China investment, and unveiled the company's first new car inside over 40 years, the BX7 at this 2015 International Motor Indicate.The origins of Bremen's most significant auto-business resume 1905 with the business in nearby Varel from the "Hansa Automobilgesellschaft" and the walls in Bremen itself regarding "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 to form 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 personal bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand the particular scope of his auto business, and he took control of computer.
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The first "automobile" Carl Borgward created was the 1924 Blitzkarren (super cart), a sort of little three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the nevertheless three wheeler timber presented synthetic leather bodied 5 or perhaps 7 hp Goliath Master. Borgward turned his care about the other businesses and led the development with the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 and also in 1939 the title was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from companies he had acquired in the past to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business at the same time of austerity and rationing. For many purposes the businesses would be run like a single entity, but in a business operated by a man to whom delegation wouldn't come naturally the spreading of legal entities even so added unhelpful layers of complexity through the 1950s and encouraged a broadening in the range which finally proved financially unsustainable with all the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.On the list of 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 hottest model and remained in production to the life of the corporation. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (which was also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such while air suspension and computerized transmission, the company had trouble competing available on the market. While larger companies including Opel and VW took advantage of economies of scale and kept their prices low to achieve market share, Borgward's cost structure was even beyond necessary for its size, as it basically managed as four tiny independent companies and do not implemented such basic charge reduction strategies as shared development and parts sharing relating to the company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced to be a water-cooled boxer with entry wheel drive, but plagued with problems including water leakage and gearbox errors. Lloyd lost money on the car even though it was more expensive as compared to its direct competitors.In 1961, the company was required into liquidation by lenders. Carl Borgward died with July 1963, still insisting the company was technically solvent. This proved to be true inside the sense that after the creditors were paid 100 %, there was still 5. 5 million Marks left over from the business.
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Studies of difficulties at Borgward surfaced within an article that appeared with Germany's leading news magazine, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly vital of Carl Borgward's organization approach, and included many from the arguments later advanced to describe or justify the business's demise. The widest range associated with cars from any producer in Germany, produced by three until finally recently operationally autonomous businesses (Borgward, Goliath and Lloyd) has been supporting a turnover involving only 650 million Grades, placing the overall sales value from the combined Borgward auto companies only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation connected with new and modified versions featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") gave rise to components which too much did not work, broke down or droped apart, resulting in massive bills for pre-delivery remediation and/or submit delivery warranty work that found their made use of to the company.The December 1960 Spiegel article hasn't been the only serious community criticism targeting Borgward at the moment: suddenly stridently negative (in the event more succinct) comments also turned up in the influential mass-market Bild classifieds and in television accounts. Critical media commentaries also appeared concerning large loans for the Borgward Group provided from the local Landesbank.It is apparent that this business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses for instance auto manufacturing use the expensive machines and tools most efficiently should they use them constantly with full capacity, but the car market in Europe within the 1950s/60s was more periodic than today, with sales diminishing in Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars towards the end of 1960 was higher than usual, reflecting ambitious growth strategies, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered through the North American dealers throughout 1960 (and in the 12, 000 delivered to them) 6, 000 might have being taken back following a slump in Us demand. (Borgward was not the only real European auto maker hit by way of North American slump widely used for imported cars during 1960. In the same yr two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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At the conclusion of December 1960 Borgward approached your banker for a further just one million Marks of credit rating, the loan to be backed by way of a guarantee from the Bremen local government which initially the Bremen senators decided to provide. However, following the flood connected with 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 actual senate’s terms on 5 February 1961, thereby averting the bankruptcy on the business.The Bremen Senate additionally insisted on appointing a unique nominee as chairman with the company’s supervisory board. The man they select was Johannes Semler with whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice towards the breadth of Semler’s vocation. He had studied law at university and worked initially as being a lawyer. The scion of a leading 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 along with 1953. Despite his Hamburg roots, Semler was by these times based in Munich, with a network of contacts within the Bavarian establishment that most likely included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position inside the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators to chair the Borgward supervisory board would, in retrospect, contribute to the controversy that followed the Borgward a bankruptcy proceeding.
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On 28 July 1961 Semler, as Chairman of the supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while concurrently protecting the interests regarding 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” have got suggested that Semler, for reasons of his very own, never had any purpose of allowing the Borgward auto-businesses to be able to survive.
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