Borgward can be an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in this 1960s. The Borgward group produced four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grandson, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the firm's first new car throughout over 40 years, the BX7 at this 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business get back to 1905 with the business in nearby Varel from the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself associated with "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and from the late 1920s faced chapter 7. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand your scope of his car business, and he took control of it.
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The primary "automobile" Carl Borgward made was the 1924 Blitzkarren (turbo cart), a sort of very small three-wheeled van with 2 hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered some of them for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the however three wheeler timber framed synthetic leather bodied 5 or perhaps 7 hp Goliath Leading. Borgward turned his focus on the other businesses as well as led the development in 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 as well as 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 in recent times to found three different 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 firms would be run to be a single entity, but in a business operated by way of a man to whom delegation wouldn't come naturally the proliferation of legal entities nonetheless added unhelpful layers of complexity with the 1950s and encouraged a broadening with the range which eventually proved financially unsustainable using the sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.One of several top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's hottest model and remained in production for that life of the firm. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (which was also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such seeing that air suspension and intelligent transmission, the company had trouble competing in the market. While larger companies like Opel and VW took advantage of economies of scale as well as kept their prices low to find market share, Borgward's cost structure was even more than necessary for its size, as it basically operated as four tiny independent companies and not implemented such basic charge reduction strategies as joint development and parts sharing relating to the company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced as a water-cooled boxer with the front wheel drive, but plagued with problems including water leakage and gearbox snags. Lloyd lost money on the car although it was more expensive than its direct competitors.In 1961, the company was compelled into liquidation by loan companies. Carl Borgward died throughout July 1963, still insisting the company were being technically solvent. This proved to be true inside sense that after the actual creditors were paid entirely, there was still several. 5 million Marks left from the business.
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Reviews of difficulties at Borgward surfaced in the article that appeared inside Germany's leading news journal, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly critical of Carl Borgward's organization approach, and included many in the arguments later advanced to describe or justify the corporation's demise. The widest range connected with cars from any manufacturer in Germany, produced by three until eventually recently operationally autonomous businesses (Borgward, Goliath and Lloyd) seemed to be supporting a turnover regarding only 650 million Signifies, placing the overall sales value through 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 associated with new and modified designs featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") offered rise to components which many times did not work, broke down or fell apart, resulting in massive payments for pre-delivery remediation and/or write-up delivery warranty work that found their way back to the company.The December 1960 Spiegel article had not been the only serious public criticism targeting Borgward currently: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild paper and in television reports. Critical media commentaries additionally appeared concerning large loans towards the Borgward Group provided by the local Landesbank.It is apparent that this business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses including auto manufacturing use their particular expensive machines and tools most efficiently when they use them constantly on full capacity, but the car market in Europe from the 1950s/60s was more temporary than today, with sales diminishing in Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars right at the end of 1960 was more than usual, reflecting ambitious growth programs, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered because of the North American dealers inside 1960 (and on the 12, 000 delivered to these individuals) 6, 000 might have to be taken back following a slump in North american demand. (Borgward was not the sole European auto maker hit by way of a North American slump in demand for imported cars in the course of 1960. In the same yr two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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At the conclusion of December 1960 Borgward approached the bank for a further 1 million Marks of credit score, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators agreed to provide. However, following the flood regarding critical press comment the senators withdrew their assurance. They now required Carl Borgward to pledge the company 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 some February 1961, thereby averting the bankruptcy on the business.The Bremen Senate likewise insisted on appointing a unique nominee as chairman with the company’s supervisory board. The man they chose was Johannes Semler which reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice for the breadth of Semler’s profession. He had studied law at university and worked initially as being a lawyer. The scion of a leading Hamburg political family, in 1945 he had himself been a founding person in the centre-right CSU get together, and was a member of the Bundestag between 1950 and also 1953. Despite his Hamburg beginning, Semler was by now based in Munich, with a network of contacts inside Bavarian establishment that probably included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position from the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators to chair the Borgward supervisory board would, in retrospect, contribute to the debate that followed the Borgward individual bankruptcy.
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On 28 July 1961 Semler, as Chairman of this supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the company to continue to trade while simultaneously protecting the interests associated with creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November with 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 help survive.
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