Borgward can be an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen within 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 since been revived by Carl Borgward's son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the businesses first new car inside over 40 years, the BX7 at the actual 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business go back to 1905 with the place in nearby Varel of the "Hansa Automobilgesellschaft" and the muse in Bremen itself connected with "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economy then confronting Germany, the business failed to prosper and because of the late 1920s faced chapter 7. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the actual scope of his automobile business, and he took control of the usb ports.
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The very first "automobile" Carl Borgward developed was the 1924 Blitzkarren (super cart), a sort of teeny three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered some of them 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 maybe 7 hp Goliath Leader. Borgward turned his focus on the other businesses as well as led the development from the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and also 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 a number of the brand names from corporations 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 each time of austerity and rationing. For many purposes the lenders would be run like a single entity, but in a business operated with a man to whom delegation failed to come naturally the spreading of legal entities on the other hand added unhelpful layers of complexity over the 1950s and encouraged a broadening on the range which eventually proved financially unsustainable while using the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of the top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most popular model and remained in production with the life of the business. 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 transforming into a successful Formula Two power unit (that was also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such seeing that air suspension and computerized transmission, the company had trouble competing out there. While larger companies just like Opel and VW took benefit from economies of scale in addition to kept their prices low to get market share, Borgward's cost structure was even higher than necessary for its sizing, as it basically controlled as four tiny independent companies and do not implemented such basic charge reduction strategies as mutual development and parts sharing between company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced like a water-cooled boxer with top wheel drive, but plagued with problems including water leakage and gearbox snags. Lloyd lost money on the car even though it was more expensive than its direct competitors.In 1961, the company was pushed into liquidation by credit card companies. Carl Borgward died within July 1963, still insisting the company was technically solvent. This proved to be true within the sense that after the particular creditors were paid in full, there was still some. 5 million Marks remaining from the business.
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Reports of difficulties at Borgward surfaced within the article that appeared inside Germany's leading news magazine, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly essential of Carl Borgward's small business approach, and included many from the arguments later advanced to spellout or justify the company's demise. The widest range regarding cars from any maker in Germany, produced by three until recently operationally autonomous organizations (Borgward, Goliath and Lloyd) has been supporting a turnover connected with only 650 million Signifies, placing the overall sales value in the combined Borgward auto companies only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation regarding new and modified types featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") gave rise to components which many times did not work, broke down or fell into apart, resulting in massive payments for pre-delivery remediation and/or write-up delivery warranty work that found their in the past to the company.The December 1960 Spiegel article was not the only serious general public criticism targeting Borgward at the moment: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild paper and in television studies. Critical media commentaries in addition appeared concerning large loans to the Borgward Group provided by the local Landesbank.It is apparent which the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses including auto manufacturing use their particular expensive machines and tools most efficiently when they use them constantly with full capacity, but the car market in Europe inside 1950s/60s was more seasonal than today, with sales diminishing with Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was greater than usual, reflecting ambitious growth plans, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered with the North American dealers inside 1960 (and on the 12, 000 delivered to these individuals) 6, 000 might have being taken back following a slump in Us demand. (Borgward was not the sole European auto maker hit by the North American slump sought after for imported cars in the course of 1960. In the same calendar year two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the lending company for a further 1 million Marks of credit, the loan to be backed by a guarantee from the Bremen local government which initially the Bremen senators decided to provide. However, following the flood involving critical press comment this senators withdrew their assurance. They now required Carl Borgward to pledge the business 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 senate’s terms on four February 1961, thereby averting the bankruptcy on the business.The Bremen Senate likewise insisted on appointing a nominee as chairman in the company’s supervisory board. The man they select was Johannes Semler to whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice for the breadth of Semler’s career. He had studied legislations at university and worked initially like a lawyer. The scion of a top Hamburg political family, in 1945 he received himself been a founding member of the centre-right CSU bash, and was a member of the Bundestag between 1950 and also 1953. Despite his Hamburg beginning, Semler was by now based in Munich, with a network of contacts from the Bavarian establishment that likely included fellow CSU politician and also 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 since the representative of the Bremen senators to chair the Borgward supervisory panel would, in retrospect, contribute to the debate that followed the Borgward chapter 7.
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In 28 July 1961 Semler, as Chairman of the supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided to get a court sanctioned scheme of arrangement enabling the company to continue to trade while concurrently protecting the interests involving creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of their own, never had any intention of allowing the Borgward auto-businesses for you to survive.
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