Borgward is definitely an automobile manufacturer originally set up 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 vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's grand son, 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 the particular 2015 International Motor Indicate.The origins of Bremen's most significant auto-business go back to 1905 with the business in nearby Varel of the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself involving "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 financial situation then confronting Germany, the business failed to prosper and by the late 1920s faced chapter 7. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand your scope of his auto business, and he took control of it.
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The initial "automobile" Carl Borgward developed 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 out there gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the however three wheeler timber framed synthetic leather bodied 5 or maybe 7 hp Goliath Pioneer. Borgward turned his attention to 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 label was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from firms he had acquired through the years to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business at any given time of austerity and rationing. For many purposes the businesses would be run like a single entity, but in a business operated by way of man to whom delegation did not come naturally the expansion of legal entities on the other hand added unhelpful layers of complexity through the 1950s and encouraged a broadening of the range which eventually proved financially unsustainable with the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of the top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's most favored model and remained in production with the 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 late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that is also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such while air suspension and automatic transmission, the company had trouble competing in the marketplace. While larger companies such as Opel and VW took advantage of economies of scale and also kept their prices low to realize market share, Borgward's cost structure was even higher than necessary for its size, as it basically handled as four tiny independent companies and never implemented such basic expense reduction strategies as joint development and parts sharing relating to the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced like a water-cooled boxer with entrance wheel drive, but plagued with problems such as water leakage and gearbox snags. Lloyd lost money on the car community . was more expensive than its direct competitors.In 1961, the company was forced into liquidation by loan companies. Carl Borgward died inside July 1963, still insisting the company had been technically solvent. This proved to be true in the sense that after this creditors were paid entirely, there was still 5. 5 million Marks remaining from the business.
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Reports of difficulties at Borgward surfaced within an article that appeared in Germany's leading news journal, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly essential of Carl Borgward's small business approach, and included many of the arguments later advanced to describe or justify the company's demise. The widest range regarding cars from any maker in Germany, produced by three till recently operationally autonomous corporations (Borgward, Goliath and Lloyd) was supporting a turnover connected with only 650 million Signifies, placing the overall sales value from the combined Borgward auto organizations 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 of new and modified types featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") afforded rise to components which too much did not work, broke down or fell apart, resulting in massive bills for pre-delivery remediation and/or write-up delivery warranty work that found their way back to the company.The December 1960 Spiegel article has not been the only serious general public criticism targeting Borgward at the moment: suddenly stridently negative (in the event more succinct) comments also turned up in the influential mass-market Bild magazine and in television stories. Critical media commentaries furthermore appeared concerning large loans towards Borgward Group provided through the local Landesbank.It is apparent that this business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses such as auto manufacturing use their expensive machines and tools most efficiently whenever 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 in Winter, then peaking in early summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was greater than usual, reflecting ambitious growth plans, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered through the North American dealers inside 1960 (and on the 12, 000 delivered to all of them) 6, 000 might have to get taken back following a slump in Us demand. (Borgward was not the sole European auto maker hit by a North American slump popular for imported cars while in 1960. In the same season two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in Big apple were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached the financial institution for a further one million Marks of credit ratings, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators consented to provide. However, following the flood connected with critical press comment the senators withdrew their ensure. They now required Carl Borgward to pledge the corporation itself to the state in return 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 5 February 1961, thereby averting the bankruptcy of the business.The Bremen Senate likewise insisted on appointing a unique nominee as chairman from the company’s supervisory board. The man they selected was Johannes Semler whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice towards breadth of Semler’s occupation. He had studied legislation at university and worked initially being a lawyer. The scion of a number one Hamburg political family, in 1945 he received himself been a founding member of the centre-right CSU party, and was a person in the Bundestag between 1950 and 1953. Despite his Hamburg roots, Semler was by on this occasion based in Munich, with a network of contacts inside the Bavarian establishment that probably included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position in 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 controversy that followed the Borgward a bankruptcy proceeding.
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With 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the organization to continue to trade while while doing so protecting the interests involving creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of her own, never had any objective of allowing the Borgward auto-businesses to be able to survive.
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