Borgward can be an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in this 1960s. The Borgward group made four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grandson, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the businesses first new car within over 40 years, the BX7 at your 2015 International Motor Indicate.The origins of Bremen's most significant auto-business resume 1905 with the business in nearby Varel with the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself connected with "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and with the late 1920s faced chapter 7. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the actual scope of his automotive business, and he took control of computer.
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The initial "automobile" Carl Borgward designed was the 1924 Blitzkarren (lightning cart), a sort of teeny three-wheeled van with 2 hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the home 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 even now three wheeler timber presented synthetic leather bodied 5 as well as 7 hp Goliath Founder. Borgward turned his awareness of the other businesses and also led the development of the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 and in 1939 the name was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from firms 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 each time of austerity and rationing. For many purposes nokia's would be run as a single entity, but in a business operated by the man to whom delegation didn't come naturally the proliferation of legal entities on the other hand added unhelpful layers of complexity over the 1950s and encouraged a broadening of the range which finally proved financially unsustainable with the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of several top engineers at Borgward coming from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella commenced in 1954. The Isabella would become Borgward's hottest model and remained in production for the life of the business. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that was also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such since air suspension and intelligent transmission, the company had trouble competing in the market. While larger companies like Opel and VW took benefit of economies of scale and kept their prices low to get market share, Borgward's cost structure was even higher than necessary for its measurement, as it basically run as four tiny independent companies rather than implemented such basic cost reduction strategies as joint development and parts sharing between your company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced as a water-cooled boxer with entrance wheel drive, but plagued with problems such as water leakage and gearbox secrets. Lloyd lost money on the car though it was more expensive when compared with its direct competitors.In 1961, the company was forced into liquidation by loan companies. Carl Borgward died within July 1963, still insisting the company were being technically solvent. This proved to be true from the sense that after the creditors were paid in full, there was still some. 5 million Marks left from the business.
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Reviews of difficulties at Borgward surfaced in an article that appeared within Germany's leading news magazine, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly important of Carl Borgward's business approach, and included many in the arguments later advanced to describe or justify the businesses demise. The widest range involving cars from any manufacturer in Germany, produced by three till recently operationally autonomous firms (Borgward, Goliath and Lloyd) had been supporting a turnover connected with only 650 million Marks, placing the overall sales value from the combined Borgward auto corporations only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation connected with new and modified types featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") presented rise to components which too often did not work, broke down or fell apart, resulting in massive bills for pre-delivery remediation and/or submit delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article wasn't the only serious open public criticism targeting Borgward at this time: suddenly stridently negative (in case more succinct) comments also turned up in the influential mass-market Bild classifieds and in television studies. Critical media commentaries furthermore appeared concerning large loans towards the Borgward Group provided through the local Landesbank.It is apparent how the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses for instance auto manufacturing use their particular expensive machines and tools most efficiently if they use them constantly at full capacity, but the car market in Europe inside 1950s/60s was more seasons than today, with sales diminishing within Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars by 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 from the 15, 000 Borgward cars ordered because of the North American dealers with 1960 (and from the 12, 000 delivered to these) 6, 000 might have being 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 popular for imported cars during 1960. In the same calendar year two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached the bank for a further one million Marks of credit, the loan to be backed with a guarantee from the Bremen regional government which initially the Bremen senators decided to provide. However, following the flood involving critical press comment the senators withdrew their assure. 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 in the still hostile media, Borgward agreed to the particular senate’s terms on 5 February 1961, thereby averting the bankruptcy of the business.The Bremen Senate furthermore insisted on appointing a unique nominee as chairman from the company’s supervisory board. The man they select was Johannes Semler to whom reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice on the breadth of Semler’s occupation. He had studied legislation at university and worked initially like a lawyer. The scion of a respected Hamburg political family, in 1945 he acquired himself been a founding person in the centre-right CSU celebration, and was a person in the Bundestag between 1950 as well as 1953. Despite his Hamburg roots, Semler was by this time around based in Munich, with a network of contacts from the Bavarian establishment that probably included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position within the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators to help chair the Borgward supervisory panel would, in retrospect, contribute to the conflict that followed the Borgward bankruptcy.
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With 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 just a court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while as well protecting the interests involving creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of her own, never had any purpose of allowing the Borgward auto-businesses to survive.
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