Borgward is usually an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in the 1960s. The Borgward group made 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 spouse Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the businesses first new car with over 40 years, the BX7 at the particular 2015 International Motor Indicate.The origins of Bremen's most significant auto-business go back to 1905 with the establishment in nearby Varel with the "Hansa Automobilgesellschaft" and the foundation in Bremen itself of "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and with the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand your scope of his automotive business, and he took control of it.
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The initial "automobile" Carl Borgward developed was the 1924 Blitzkarren (turbo cart), a sort of small 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 got it for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the however three wheeler timber framed synthetic leather bodied 5 or even 7 hp Goliath Leader. Borgward turned his awareness of the other businesses in addition to led the development on the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 along with in 1939 the title was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from corporations he had acquired through the years to found three distinct 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 businesses would be run to be a single entity, but in a business operated by the man to whom delegation wouldn't come naturally the expansion of legal entities even so added unhelpful layers of complexity with the 1950s and encouraged a broadening of the range which finally proved financially unsustainable while using sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.Among the top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's most widely used model and remained in production with the life of the business. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (which has been also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such since air suspension and programmed transmission, the company had trouble competing out there. While larger companies just like Opel and VW took good thing about economies of scale in addition to kept their prices low to gain market share, Borgward's cost structure was even more than necessary for its dimensions, as it basically managed as four tiny independent companies and do not implemented such basic cost reduction strategies as mutual development and parts sharing between the company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced as being a water-cooled boxer with the front wheel drive, but plagued with problems for example water leakage and gearbox glitches. Lloyd lost money on the car just about the most was more expensive in comparison with its direct competitors.In 1961, the company was required into liquidation by credit card companies. Carl Borgward died with July 1963, still insisting the company were being technically solvent. This proved to be true within the sense that after the creditors were paid fully, there was still some. 5 million Marks remaining from the business.
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Reports of difficulties at Borgward surfaced within an article that appeared inside Germany's leading news mag, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places similar 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 company approach, and included many on the arguments later advanced to go into detail or justify the businesses demise. The widest range of cars from any maker in Germany, produced by three until recently operationally autonomous businesses (Borgward, Goliath and Lloyd) ended up being supporting a turnover involving only 650 million Represents, placing the overall sales value in the combined Borgward auto corporations 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 designs featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") afforded rise to components which excessively did not work, broke down or dropped apart, resulting in massive expenses for pre-delivery remediation and/or submit delivery warranty work that found their way back to the company.The December 1960 Spiegel article hasn't been the only serious general public criticism targeting Borgward right now: suddenly stridently negative (in case more succinct) comments also resulted in in the influential mass-market Bild classifieds and in television reports. Critical media commentaries also appeared concerning large loans towards the Borgward Group provided through the local Landesbank.It is apparent that the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses for example auto manufacturing use his or her expensive machines and tools most efficiently if they use them constantly at full capacity, but the car market in Europe in 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 right at the end of 1960 was beyond usual, reflecting ambitious growth programs, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered through the North American dealers inside 1960 (and on the 12, 000 delivered to all of them) 6, 000 might have for being taken back following a slump in American demand. (Borgward was not the only real European auto maker hit by way of a North American slump in demand for imported cars during 1960. In the same year two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in New york 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 history, 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 regarding critical press comment this senators withdrew their promise. 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 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 select was Johannes Semler whom reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice towards breadth of Semler’s profession. He had studied legislation at university and worked initially as being a lawyer. The scion of a respected Hamburg political family, in 1945 he received himself been a founding person in the centre-right CSU get together, and was a person in the Bundestag between 1950 and also 1953. Despite his Hamburg origins, Semler was by this time around based in Munich, with a network of contacts inside the Bavarian establishment that almost certainly included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position within the Bizone. The appointment of Johannes Semler because representative of the Bremen senators to chair the Borgward supervisory mother board would, in retrospect, contribute to the dispute that followed the Borgward personal bankruptcy.
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About 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided to get a court sanctioned scheme of arrangement enabling the company to continue to trade while while doing so protecting the interests of creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of his own, never had any purpose of allowing the Borgward auto-businesses to be able to survive.
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