Borgward is an automobile manufacturer originally started 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 automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Far east 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 return to 1905 with the business in nearby Varel with the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself of "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and from the late 1920s faced a bankruptcy proceeding. 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 automotive business, and he took control than it.
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The initial "automobile" Carl Borgward intended was the 1924 Blitzkarren (turbo cart), a sort of very small three-wheeled van with two hp (1. 5 kW), which was an enormous success on the market gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the still three wheeler timber framed synthetic leather bodied 5 as well as 7 hp Goliath Founder. Borgward turned his care about the other businesses and also led the development in the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 as well as in 1939 the name was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from firms he had acquired over time to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business at a time of austerity and rationing. For many purposes the companies would be run like a single entity, but in a business operated by way of man to whom delegation would not come naturally the growth of legal entities however added unhelpful layers of complexity through the 1950s and encouraged a broadening from the range which eventually proved financially unsustainable with all the sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.Among the top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's most favored model and remained in production for that life of the corporation. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (that is also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such since air suspension and automatic transmission, the company had trouble competing available on the market. While larger companies just like Opel and VW took benefit of economies of scale and kept their prices low to gain market share, Borgward's cost structure was even beyond necessary for its sizing, as it basically operated as four tiny independent companies and not implemented such basic expense reduction strategies as articulation development and parts sharing relating to the company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced to be a water-cooled boxer with top wheel drive, but plagued with problems for instance water leakage and gearbox mistakes. Lloyd lost money on the car although it was more expensive compared to its direct competitors.In 1961, the company was pressured into liquidation by lenders. Carl Borgward died within July 1963, still insisting the company was technically solvent. This proved to be true inside the sense that after this creditors were paid in full, there was still some. 5 million Marks left over from the business.
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Studies of difficulties at Borgward surfaced within the article that appeared within Germany's leading news mag, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly essential of Carl Borgward's enterprise approach, and included many in the arguments later advanced to go into detail or justify the corporation's demise. The widest range of cars from any supplier in Germany, produced by three until finally recently operationally autonomous businesses (Borgward, Goliath and Lloyd) seemed to be supporting a turnover associated with only 650 million Grades, placing the overall sales value from the combined Borgward auto firms only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation regarding new and modified versions featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") presented rise to components which many times did not work, broke down or droped apart, resulting in massive costs for pre-delivery remediation and/or publish delivery warranty work that found their in the past to the company.The December 1960 Spiegel article was not the only serious community criticism targeting Borgward at this time: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild newspaper and in television stories. Critical media commentaries likewise appeared concerning large loans towards the Borgward Group provided from the local Landesbank.It is apparent the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses for instance auto manufacturing use their particular expensive machines and tools most efficiently when they use them constantly with full capacity, but the car market in Europe in the 1950s/60s was more periodic than today, with sales diminishing with Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was above usual, reflecting ambitious growth strategies, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered because of the North American dealers within 1960 (and of the 12, 000 delivered to these people) 6, 000 might have to become taken back following a slump in Us demand. (Borgward was not really the only European auto maker hit with a North American slump successful for imported cars during 1960. In the same 12 months two ships carrying Renault Dauphines were turned the government financial aid 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 lending company for a further just one million Marks of credit, 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 regarding critical press comment the particular senators withdrew their ensure. They now required Carl Borgward to pledge the corporation itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported within a still hostile media, Borgward agreed to the actual senate’s terms on four February 1961, thereby averting the bankruptcy of the business.The Bremen Senate additionally insisted on appointing its very own nominee as chairman on the company’s supervisory board. The man they decided to go with was Johannes Semler which reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice towards breadth of Semler’s job. He had studied regulation at university and worked initially to be a lawyer. The scion of a respected Hamburg political family, in 1945 he received himself been a founding member of the centre-right CSU get together, and was a member of the Bundestag between 1950 as well as 1953. Despite his Hamburg roots, Semler was by this time based in Munich, with a network of contacts within the Bavarian establishment that likely included fellow CSU politician as well as 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 because representative of the Bremen senators in order to chair the Borgward supervisory aboard would, in retrospect, contribute to the debate that followed the Borgward bankruptcy.
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On 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the company to continue to trade while as well protecting the interests regarding creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his or her own, never had any intent of allowing the Borgward auto-businesses to be able to survive.
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