Borgward can be an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in the actual 1960s. The Borgward group made four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the firm's first new car in over 40 years, the BX7 at the actual 2015 International Motor Show.The origins of Bremen's most significant auto-business get back to 1905 with the establishment in nearby Varel on the "Hansa Automobilgesellschaft" and the muse in Bremen itself associated with "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and by the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the scope of his car business, and he took control of computer.
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The 1st "automobile" Carl Borgward designed was the 1924 Blitzkarren (super cart), a sort of small three-wheeled van with 2 hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the still three wheeler timber presented synthetic leather bodied 5 as well as 7 hp Goliath Leader. Borgward turned his focus on the other businesses in addition to led the development on the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 along with in 1939 the identify was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from companies he had acquired through the years 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 firms would be run as being a single entity, but in a business operated with a man to whom delegation didn't come naturally the proliferation of legal entities nonetheless added unhelpful layers of complexity through the 1950s and encouraged a broadening from the range which ultimately proved financially unsustainable using the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.Among the top engineers at Borgward coming from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's hottest model and remained in production for the life of the corporation. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that is also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such as air suspension and automatic transmission, the company had trouble competing in the market. While larger companies similar to Opel and VW took benefit from economies of scale and also kept their prices low to get market share, Borgward's cost structure was even more than necessary for its size, as it basically handled as four tiny independent companies and do not implemented such basic price reduction strategies as joint development and parts sharing between the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced as being a water-cooled boxer with front wheel drive, but plagued with problems like water leakage and gearbox snags. Lloyd lost money on the car though it was more expensive when compared with its direct competitors.In 1961, the company was pressured into liquidation by lenders. Carl Borgward died with July 1963, still insisting the company were being technically solvent. This proved to be true from the sense that after the creditors were paid entirely, there was still some. 5 million Marks left over from the business.
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Studies of difficulties at Borgward surfaced within the article that appeared with Germany's leading news newspaper, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly critical of Carl Borgward's business approach, and included many in the arguments later advanced to go into detail or justify the business's demise. The widest range connected with cars from any company in Germany, produced by three till recently operationally autonomous firms (Borgward, Goliath and Lloyd) had been supporting a turnover regarding only 650 million Signifies, placing the overall sales value from your combined Borgward auto businesses only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation of new and modified versions featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") offered rise to components which all too often did not work, broke down or fell apart, resulting in massive expenses for pre-delivery remediation and/or publish delivery warranty work that found their made use of to the company.The December 1960 Spiegel article has not been the only serious open public criticism targeting Borgward right now: suddenly stridently negative (in case more succinct) comments also turned up in the influential mass-market Bild paper and in television accounts. Critical media commentaries furthermore appeared concerning large loans for the Borgward Group provided through the local Landesbank.It is apparent which the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses like auto manufacturing use the expensive machines and tools most efficiently when 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 with Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars at the end of 1960 was above usual, reflecting ambitious growth strategies, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered from the North American dealers throughout 1960 (and on the 12, 000 delivered to them) 6, 000 might have being taken back following a slump in United states demand. (Borgward was not the sole European auto maker hit by a North American slump popular for imported cars in the course of 1960. In the same year two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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Right at 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 opted for provide. However, following the flood of critical press comment the particular senators withdrew their guarantee. They now required Carl Borgward to pledge the company itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported inside a still hostile media, Borgward agreed to your senate’s terms on 4 February 1961, thereby averting the bankruptcy of the business.The Bremen Senate also insisted on appointing a unique nominee as chairman of the company’s supervisory board. The man they decided to go with was Johannes Semler with whom reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice on the breadth of Semler’s vocation. He had studied law at university and worked initially being a lawyer. The scion of a respected Hamburg political family, in 1945 he acquired himself been a founding person in the centre-right CSU party, and was a member of the Bundestag between 1950 along with 1953. Despite his Hamburg sources, Semler was by these times based in Munich, with a network of contacts inside the Bavarian establishment that possibly included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position in the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators to chair the Borgward supervisory board would, in retrospect, contribute to the conflict that followed the Borgward personal bankruptcy.
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With 28 July 1961 Semler, as Chairman of the supervisory board joined the directors from 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 this company to continue to trade while as well 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” include suggested that Semler, for reasons of his own, never had any purpose of allowing the Borgward auto-businesses for you to survive.
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