Borgward can be an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the actual 1960s. The Borgward group produced four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's grand son, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the firm's first new car with over 40 years, the BX7 at the 2015 International Motor Show.The origins of Bremen's most significant auto-business get back to 1905 with the institution in nearby Varel on the "Hansa Automobilgesellschaft" and the muse in Bremen itself connected with "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and by the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand the actual scope of his vehicle business, and he took control of computer.
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The very first "automobile" Carl Borgward made was the 1924 Blitzkarren (lightning cart), a sort of small three-wheeled van with 2 hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget purchased for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the nonetheless three wheeler timber presented synthetic leather bodied 5 or even 7 hp Goliath Pioneer. Borgward turned his attention to the other businesses and also led the development on the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 as well as in 1939 the name was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from companies he had acquired in the past to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business each time of austerity and rationing. For many purposes the businesses would be run as being a single entity, but in a business operated by way of a man to whom delegation wouldn't come naturally the expansion of legal entities nevertheless added unhelpful layers of complexity with the 1950s and encouraged a broadening in the range which finally proved financially unsustainable while using the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of many 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 widely used model and remained in production for the life of the organization. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers from the late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (which was also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such since air suspension and automated transmission, the company had trouble competing available on the market. While larger companies just like Opel and VW took advantage of economies of scale and kept their prices low to realize market share, Borgward's cost structure was even higher than necessary for its dimensions, as it basically controlled as four tiny independent companies and not implemented such basic expense reduction strategies as shared development and parts sharing involving the company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced to be a water-cooled boxer with top wheel drive, but plagued with problems such as water leakage and gearbox mistakes. Lloyd lost money on the car community . was more expensive compared to 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 ended up technically solvent. This proved to be true inside sense that after this creditors were paid completely, there was still 5. 5 million Marks left from the business.
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Stories of difficulties at Borgward surfaced in an article that appeared with Germany's leading news publication, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly crucial of Carl Borgward's company approach, and included many on the arguments later advanced to describe or justify the corporation's demise. The widest range regarding cars from any company in Germany, produced by three till recently operationally autonomous corporations (Borgward, Goliath and Lloyd) was supporting a turnover of only 650 million Signifies, placing the overall sales value in the combined Borgward auto corporations only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation of 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 bills for pre-delivery remediation and/or submit delivery warranty work that found their long ago to the company.The December 1960 Spiegel article hasn't been the only serious open public criticism targeting Borgward at the moment: suddenly stridently negative (in case more succinct) comments also resulted in in the influential mass-market Bild paper and in television reviews. Critical media commentaries likewise appeared concerning large loans towards Borgward Group provided through the local Landesbank.It is apparent that this 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 with full capacity, but the car market in Europe within the 1950s/60s was more periodic than today, with sales diminishing inside Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars by the end of 1960 was more than usual, reflecting ambitious growth ideas, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered from the North American dealers within 1960 (and on the 12, 000 delivered to these) 6, 000 might have to become taken back following a slump in United states demand. (Borgward was not really the only European auto maker hit by way of a North American slump popular for imported cars while in 1960. In the same 12 months two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the lending company for a further just one million Marks of credit history, the loan to be backed by way of a guarantee from the Bremen regional government which initially the Bremen senators decided to provide. However, following the flood involving critical press comment the particular senators withdrew their assurance. They now required Carl Borgward to pledge the organization 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 the actual senate’s terms on 5 February 1961, thereby averting the bankruptcy from the business.The Bremen Senate in addition insisted on appointing a unique nominee as chairman of the company’s supervisory board. The man they select was Johannes Semler who reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice towards breadth of Semler’s career. He had studied regulation at university and worked initially like 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 person in the Bundestag between 1950 and 1953. Despite his Hamburg beginnings, Semler was by now based in Munich, with a network of contacts within the Bavarian establishment that likely included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position inside Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators to help chair the Borgward supervisory table would, in retrospect, contribute to the conflict that followed the Borgward chapter 7.
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About 28 July 1961 Semler, as Chairman of your 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 for a court sanctioned scheme of arrangement enabling the company to continue to trade while as well protecting the interests of creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his very own, never had any purpose of allowing the Borgward auto-businesses to survive.
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