Borgward is an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in your 1960s. The Borgward group produced four brands of vehicles: 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 China investment, and unveiled the company's first new car within over 40 years, the BX7 at the 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business return to 1905 with the establishment in nearby Varel with the "Hansa Automobilgesellschaft" and the muse in Bremen itself connected with "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economic situation then confronting Germany, the business failed to prosper and through the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand this scope of his vehicle business, and he took control of computer.
The 1st "automobile" Carl Borgward created was the 1924 Blitzkarren (super cart), a sort of teeny three-wheeled van with 3 hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 or perhaps 7 hp Goliath Pioneer. Borgward turned his attention to the other businesses and led the development with the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 as well as in 1939 the label 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 a few of the brand names from organizations he had acquired over time to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of 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 would not come naturally the spreading of legal entities on the other hand added unhelpful layers of complexity from the 1950s and encouraged a broadening on the range which eventually proved financially unsustainable with all the sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.On the list of 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 to the life of the corporation. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (that was also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such seeing that air suspension and intelligent transmission, the company had trouble competing available on the market. While larger companies such as Opel and VW took benefit from economies of scale along with kept their prices low to gain market share, Borgward's cost structure was even greater than necessary for its dimension, as it basically managed as four tiny independent companies and do not implemented such basic price reduction strategies as combined development and parts sharing relating to the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced like a water-cooled boxer with the front wheel drive, but plagued with problems like water leakage and gearbox glitches. 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 credit card companies. Carl Borgward died inside July 1963, still insisting the company have been technically solvent. This proved to be true inside the sense that after this creditors were paid completely, there was still some. 5 million Marks left over from the business.
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Stories of difficulties at Borgward surfaced in an article that appeared within Germany's leading news publication, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly essential of Carl Borgward's enterprise approach, and included many with the arguments later advanced to go into detail or justify the company's demise. The widest range regarding cars from any producer in Germany, produced by three till recently operationally autonomous companies (Borgward, Goliath and Lloyd) has been supporting a turnover connected with only 650 million Marks, placing the overall sales value on the combined Borgward auto businesses only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation regarding new and modified models featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") afforded rise to components which excessively did not work, broke down or chop down apart, resulting in massive bills for pre-delivery remediation and/or publish delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article had not been the only serious public criticism targeting Borgward currently: suddenly stridently negative (in the event more succinct) comments also turned up in the influential mass-market Bild newspapers and in television reports. Critical media commentaries likewise appeared concerning large loans towards Borgward Group provided from 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 their own expensive machines and tools most efficiently when they use them constantly in full capacity, but the car market in Europe from the 1950s/60s was more in season than today, with sales diminishing within Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was higher than usual, reflecting ambitious growth ideas, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered with the North American dealers inside 1960 (and with the 12, 000 delivered to these) 6, 000 might have to be taken back following a slump in North american demand. (Borgward was not the sole European auto maker hit with a North American slump in demand for imported cars throughout 1960. In the same year two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the financial institution for a further one particular million Marks of credit, the loan to be backed by way of a guarantee from the Bremen regional government which initially the Bremen senators decided provide. However, following the flood regarding critical press comment the actual senators withdrew their assure. They now required Carl Borgward to pledge this company itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported in a very still hostile media, Borgward agreed to the actual senate’s terms on some February 1961, thereby averting the bankruptcy with the business.The Bremen Senate also insisted on appointing its very own nominee as chairman from the company’s supervisory board. The man they selected was Johannes Semler whom reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice to the breadth of Semler’s career. He had studied rules at university and worked initially like a lawyer. The scion of a leading Hamburg political family, in 1945 he experienced himself been a founding member of the centre-right CSU bash, 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 in the Bavarian establishment that possibly included fellow CSU politician plus 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 because the representative of the Bremen senators in order to chair the Borgward supervisory mother board would, in retrospect, contribute to the hot debate that followed the Borgward a bankruptcy proceeding.
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With 28 July 1961 Semler, as Chairman of the supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings to the establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the company to continue to trade while concurrently protecting the interests involving creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of their own, never had any intent of allowing the Borgward auto-businesses to be able to survive.
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