Borgward is usually an automobile manufacturer originally launched 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 autos: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's grandson, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the company's first new car in over 40 years, the BX7 at this 2015 International Motor Display.The origins of Bremen's most significant auto-business get back to 1905 with the establishment in nearby Varel of the "Hansa Automobilgesellschaft" and the muse in Bremen itself connected with "Namag", maker of the Lloyd car. 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 a bankruptcy proceeding. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the particular scope of his automobile business, and he took control than it.
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The very first "automobile" Carl Borgward developed was the 1924 Blitzkarren (super cart), a sort of tiny three-wheeled van with only two hp (1. 5 kW), which was an enormous success already 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 overseer of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the still three wheeler timber framed synthetic leather bodied 5 or even 7 hp Goliath Leading. Borgward turned his care about the other businesses and also led the development with the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 and also 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 organizations he had acquired through the years to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business during a period of austerity and rationing. For many purposes nokia's would be run to be a single entity, but in a business operated by way of man to whom delegation would not come naturally the proliferation of legal entities nonetheless added unhelpful layers of complexity with the 1950s and encouraged a broadening from the range which finally proved financially unsustainable while using sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of several top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's most popular model and remained in production for your life of the business. In 1960 the Borgward P100 has been 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 is also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such while air suspension and automated transmission, the company had trouble competing available. While larger companies just like Opel and VW took advantage of economies of scale and kept their prices low to gain market share, Borgward's cost structure was even above necessary for its size, as it basically run as four tiny independent companies and don't implemented such basic price tag reduction strategies as joint development and parts sharing between your company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced as a water-cooled boxer with front wheel drive, but plagued with problems such as water leakage and gearbox secrets. Lloyd lost money on the car though it was more expensive in comparison with its direct competitors.In 1961, the company was pushed into liquidation by loan companies. Carl Borgward died in July 1963, still insisting the company was technically solvent. This proved to be true within the sense that after the particular creditors were paid 100 %, there was still several. 5 million Marks left from the business.
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Reports of difficulties at Borgward surfaced within the article that appeared throughout Germany's leading news mag, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly critical of Carl Borgward's small business approach, and included many from the arguments later advanced to explain or justify the business's demise. The widest range involving cars from any producer in Germany, produced by three till recently operationally autonomous organizations (Borgward, Goliath and Lloyd) was supporting a turnover regarding only 650 million Represents, placing the overall sales value from your combined Borgward auto businesses only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation associated with new and modified designs 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 apart, resulting in massive bills for pre-delivery remediation and/or submit delivery warranty work that found their way back to the company.The December 1960 Spiegel article was not the only serious community criticism targeting Borgward at this time: suddenly stridently negative (when more succinct) comments also turned up in the influential mass-market Bild newspaper and in television reports. Critical media commentaries furthermore appeared concerning large loans for the Borgward Group provided by the local Landesbank.It is apparent how the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses for example auto manufacturing use their own expensive machines and tools most efficiently if they use them constantly with full capacity, but the car market in Europe in the 1950s/60s was more in season than today, with sales diminishing with Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars towards the end of 1960 was higher than usual, reflecting ambitious growth programs, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered from the North American dealers with 1960 (and of the 12, 000 delivered to these people) 6, 000 might have to become taken back following a slump in North american demand. (Borgward was not the only European auto maker hit by way of a North American slump widely used for imported cars while in 1960. In the same calendar year two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached your banker for a further one million Marks of credit history, the loan to be backed by a guarantee from the Bremen local government which initially the Bremen senators decided to provide. However, following the flood connected with critical press comment the particular senators withdrew their promise. 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 still hostile media, Borgward agreed to your senate’s terms on four February 1961, thereby averting the bankruptcy in the business.The Bremen Senate in addition insisted on appointing a nominee as chairman of the company’s supervisory board. The man they decided was Johannes Semler who reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice for the breadth of Semler’s occupation. He had studied legislation at university and worked initially to be a lawyer. The scion of a respected Hamburg political family, in 1945 he got himself been a founding member of the centre-right CSU party, and was a member of the Bundestag between 1950 as well as 1953. Despite his Hamburg beginnings, Semler was by these times based in Munich, with a network of contacts inside Bavarian establishment that probably included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position within the Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators for you to chair the Borgward supervisory table would, in retrospect, contribute to the controversy that followed the Borgward a bankruptcy proceeding.
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In 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the business to continue to trade while as well protecting the interests of creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of his or her own, never had any intent of allowing the Borgward auto-businesses for you to survive.
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