Borgward can be an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in your 1960s. The Borgward group created four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grand son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from China investment, and unveiled the corporation's first new car in over 40 years, the BX7 at the 2015 International Motor Show.The origins of Bremen's most significant auto-business go back to 1905 with the organization in nearby Varel in the "Hansa Automobilgesellschaft" and the foundation in Bremen itself of "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 economic situation then confronting Germany, the business failed to prosper and with the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the particular scope of his automobile business, and he took control of the usb ports.
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The very first "automobile" Carl Borgward designed was the 1924 Blitzkarren (turbo cart), a sort of little three-wheeled van with only two hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 or perhaps 7 hp Goliath Pioneer. Borgward turned his awareness of the other businesses in addition to led the development from the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 along with in 1939 the identify was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from companies he had acquired through the years to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business at any given time of austerity and rationing. For many purposes the businesses would be run to be a single entity, but in a business operated by way of a man to whom delegation didn't come naturally the spreading of legal entities nevertheless added unhelpful layers of complexity from the 1950s and encouraged a broadening on the range which in the long run proved financially unsustainable with the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.On the list of top engineers at Borgward coming from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most favored model and remained in production for that life of the company. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (which has been also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such because air suspension and automatic transmission, the company had trouble competing in the marketplace. While larger companies just like Opel and VW took selling point of economies of scale along with kept their prices low to gain market share, Borgward's cost structure was even higher than necessary for its size, as it basically run as four tiny independent companies and don't implemented such basic charge reduction strategies as mutual development and parts sharing between your company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced as being a water-cooled boxer with entrance wheel drive, but plagued with problems like water leakage and gearbox mistakes. Lloyd lost money on the car even though it was more expensive than its direct competitors.In 1961, the company was pressured into liquidation by lenders. Carl Borgward died inside July 1963, still insisting the company was technically solvent. This proved to be true inside the sense that after the creditors were paid fully, there was still 4. 5 million Marks left over from the business.
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Reports of difficulties at Borgward surfaced within the article that appeared with Germany's leading news publication, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly essential of Carl Borgward's organization approach, and included many from the arguments later advanced to describe or justify the businesses demise. The widest range involving cars from any manufacturer in Germany, produced by three right up until recently operationally autonomous businesses (Borgward, Goliath and Lloyd) had been supporting a turnover associated with only 650 million Marks, placing the overall sales value from the combined Borgward auto corporations only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation connected with new and modified versions featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") afforded rise to components which too often did not work, broke down or chop down apart, resulting in massive bills 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 has not been the only serious open criticism targeting Borgward at this time: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild newspapers and in television studies. Critical media commentaries likewise appeared concerning large loans on the Borgward Group provided through the local Landesbank.It is apparent how the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses for instance auto manufacturing use the expensive machines and tools most efficiently whenever they use them constantly from full capacity, but the car market in Europe from the 1950s/60s was more seasons than today, with sales diminishing within Winter, then peaking in early summer months: Borgward’s inventory of unsold cars at the end of 1960 was greater than usual, reflecting ambitious growth programs, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered through the North American dealers within 1960 (and in the 12, 000 delivered to all of them) 6, 000 might have to become taken back following a slump in United states demand. (Borgward was not the sole European auto maker hit by the North American slump in demand for imported cars throughout 1960. In the same 12 months two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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At the conclusion of December 1960 Borgward approached the financial institution for a further one million Marks of credit rating, the loan to be backed by way of a guarantee from the Bremen regional government which initially the Bremen senators opted for provide. However, following the flood involving critical press comment the senators withdrew their promise. They now required Carl Borgward to pledge the organization itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in a still hostile media, Borgward agreed to this senate’s terms on several February 1961, thereby averting the bankruptcy in the business.The Bremen Senate likewise insisted on appointing its very own nominee as chairman from the company’s supervisory board. The man they select was Johannes Semler which reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice for the breadth of Semler’s job. He had studied rules 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 celebration, and was a member of the Bundestag between 1950 in addition to 1953. Despite his Hamburg roots, Semler was by on this occasion based in Munich, with a network of contacts inside Bavarian establishment that possibly included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position from the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators to be able to chair the Borgward supervisory board would, in retrospect, contribute to the controversy that followed the Borgward bankruptcy.
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With 28 July 1961 Semler, as Chairman of your supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings to the establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while at the same time protecting the interests associated with 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” get suggested that Semler, for reasons of her own, never had any goal of allowing the Borgward auto-businesses in order to survive.
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