Borgward is usually an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in the particular 1960s. The Borgward group generated four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grandson, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the business's first new car inside over 40 years, the BX7 at the 2015 International Motor Show.The origins of Bremen's most significant auto-business get back on 1905 with the establishment in nearby Varel with the "Hansa Automobilgesellschaft" and the walls in Bremen itself of "Namag", maker of the Lloyd auto. These two businesses merged in 1914 in order to create 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 personal 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 it.
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The initial "automobile" Carl Borgward intended was the 1924 Blitzkarren (lightning cart), a sort of very small three-wheeled van with 2 hp (1. 5 kW), which was an enormous success already in the market gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the even now three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Leader. Borgward turned his care about the other businesses along with led the development from the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 along with in 1939 the identify was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from organizations he had acquired through the years to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business each time of austerity and rationing. For many purposes the firms would be run like a single entity, but in a business operated by way of a man to whom delegation did not come naturally the growth of legal entities on the other hand added unhelpful layers of complexity over the 1950s and encouraged a broadening from the range which ultimately proved financially unsustainable while using sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of many top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most popular model and remained in production for that life of the company. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these learning to be a successful Formula Two power unit (that is also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such seeing that air suspension and computerized transmission, the company had trouble competing in the marketplace. While larger companies including 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 run as four tiny independent companies and don't implemented such basic price reduction strategies as combined development and parts sharing between the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced to be a water-cooled boxer with the front wheel drive, but plagued with problems for instance water leakage and gearbox mistakes. Lloyd lost money on the car even though it was more expensive in comparison with its direct competitors.In 1961, the company was forced into liquidation by collectors. Carl Borgward died throughout July 1963, still insisting the company was technically solvent. This proved to be true inside sense that after the particular creditors were paid in full, there was still 5. 5 million Marks left from the business.
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Reviews of difficulties at Borgward surfaced in a article that appeared within Germany's leading news mag, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly important of Carl Borgward's enterprise approach, and included many in the arguments later advanced to describe or justify the corporation's demise. The widest range of cars from any supplier in Germany, produced by three until finally recently operationally autonomous corporations (Borgward, Goliath and Lloyd) had been supporting a turnover regarding only 650 million Scars, placing the overall sales value in the combined Borgward auto businesses 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 regarding new and modified types featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") afforded rise to components which too much 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 long ago to the company.The December 1960 Spiegel article had 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 stories. Critical media commentaries in addition appeared concerning large loans to the Borgward Group provided with the local Landesbank.It is apparent which the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses such as auto manufacturing use their expensive machines and tools most efficiently should they use them constantly at full capacity, but the car market in Europe within the 1950s/60s was more temporary 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 strategies, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered by the North American dealers with 1960 (and on the 12, 000 delivered to all of them) 6, 000 might have to become taken back following a slump in American demand. (Borgward was not the only real European auto maker hit by the North American slump in demand for imported cars through 1960. In the same year two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached your banker for a further 1 million Marks of credit rating, the loan to be backed by way of a guarantee from the Bremen local government which initially the Bremen senators decided to provide. However, following the flood involving critical press comment this senators withdrew their guarantee. They now required Carl Borgward to pledge the company itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported in the still hostile media, Borgward agreed to the particular senate’s terms on some February 1961, thereby averting the bankruptcy in the business.The Bremen Senate furthermore insisted on appointing its own nominee as chairman with the company’s supervisory board. The man they selected was Johannes Semler to whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice on the breadth of Semler’s profession. He had studied law at university and worked initially as a lawyer. The scion of a top Hamburg political family, in 1945 he had himself been a founding person in the centre-right CSU gathering, and was a member of the Bundestag between 1950 along with 1953. Despite his Hamburg beginnings, Semler was by this time based in Munich, with a network of contacts inside the Bavarian establishment that possibly included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position inside the Bizone. The appointment of Johannes Semler because representative of the Bremen senators to help chair the Borgward supervisory aboard would, in retrospect, contribute to the controversy that followed the Borgward personal bankruptcy.
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Upon 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 for your establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while while doing so protecting the interests of creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of his own, never had any objective of allowing the Borgward auto-businesses to be able to survive.
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