Borgward can be an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in the particular 1960s. The Borgward group developed four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's son, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the firm's first new car in 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 in the "Hansa Automobilgesellschaft" and the muse in Bremen itself of "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economic situation then confronting Germany, the business failed to prosper and by the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand the scope of his vehicle business, and he took control than it.
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The primary "automobile" Carl Borgward designed was the 1924 Blitzkarren (lightning cart), a sort of little three-wheeled van with 3 hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget purchased for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the still three wheeler timber presented synthetic leather bodied 5 as well as 7 hp Goliath Pioneer. Borgward turned his attention to the other businesses and also led the development on the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 and in 1939 the brand was shortened to Borgward 2000. The 2000 model was accompanied by 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 the past to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business during a period of austerity and rationing. For many purposes nokia's would be run like a single entity, but in a business operated by way of man to whom delegation didn't come naturally the spreading of legal entities on the other hand added unhelpful layers of complexity throughout the 1950s and encouraged a broadening of the range which finally proved financially unsustainable while using sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.One of the top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's hottest model and remained in production for that life of the company. In 1960 the Borgward P100 has been 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 being a successful Formula Two power unit (that was also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such seeing that air suspension and programmed transmission, the company had trouble competing available. While larger companies just like Opel and VW took benefit of economies of scale along with kept their prices low to realize market share, Borgward's cost structure was even above necessary for its size, as it basically controlled as four tiny independent companies and not implemented such basic cost reduction strategies as combined development and parts sharing relating to the company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced as a water-cooled boxer with the front wheel drive, but plagued with problems such as water leakage and gearbox mistakes. 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 in July 1963, still insisting the company had been technically solvent. This proved to be true inside the sense that after this 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 an article that appeared inside Germany's leading news publication, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly crucial of Carl Borgward's small business approach, and included many on the arguments later advanced to go into detail or justify the company's demise. The widest range involving cars from any producer in Germany, produced by three till recently operationally autonomous businesses (Borgward, Goliath and Lloyd) ended up being supporting a turnover regarding only 650 million Represents, placing the overall sales value in the combined Borgward auto corporations only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation involving new and modified designs featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") offered rise to components which too much did not work, broke down or fell into apart, resulting in massive costs for pre-delivery remediation and/or publish delivery warranty work that found their way back to the company.The December 1960 Spiegel article was not the only serious public criticism targeting Borgward currently: suddenly stridently negative (in case more succinct) comments also turned up in the influential mass-market Bild newspapers and in television reports. Critical media commentaries additionally appeared concerning large loans towards Borgward Group provided with the local Landesbank.It is apparent which the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses including auto manufacturing use their particular expensive machines and tools most efficiently if they use them constantly with full capacity, but the car market in Europe from the 1950s/60s was more temporary than today, with sales diminishing within Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was higher than 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 inside 1960 (and on the 12, 000 delivered to these individuals) 6, 000 might have to become taken back following a slump in North american demand. (Borgward was not the sole European auto maker hit by way of North American slump popular for imported cars in the course of 1960. In the same season two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in Big apple were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached your banker for a further just one million Marks of credit score, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators opted for provide. However, following the flood regarding critical press comment the senators withdrew their promise. They now required Carl Borgward to pledge the organization itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported in a very still hostile media, Borgward agreed to the particular senate’s terms on some February 1961, thereby averting the bankruptcy on the business.The Bremen Senate furthermore insisted on appointing its nominee as chairman of the company’s supervisory board. The man they chose was Johannes Semler whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice towards breadth of Semler’s occupation. He had studied law at university and worked initially as being a lawyer. The scion of a respected Hamburg political family, in 1945 he acquired himself been a founding member of the centre-right CSU gathering, and was a member of the Bundestag between 1950 as well as 1953. Despite his Hamburg sources, Semler was by on this occasion based in Munich, with a network of contacts from the Bavarian establishment that most likely included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position from the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators to chair the Borgward supervisory board would, in retrospect, contribute to the hot debate that followed the Borgward individual bankruptcy.
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Upon 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling this company to continue to trade while simultaneously protecting the interests involving creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his very own, never had any goal of allowing the Borgward auto-businesses to be able to survive.
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