Borgward can be an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in your 1960s. The Borgward group developed four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grandson, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the businesses first new car in over 40 years, the BX7 at the actual 2015 International Motor Indicate.The origins of Bremen's most significant auto-business resume 1905 with the establishment in nearby Varel with the "Hansa Automobilgesellschaft" and the walls in Bremen itself involving "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economic situation then confronting Germany, the business failed to prosper and with the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand the particular scope of his automotive business, and he took control of it.
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The primary "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 in the market gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the still three wheeler timber framed synthetic leather bodied 5 or 7 hp Goliath Pioneer. Borgward turned his care about the other businesses and also led the development with the Hansa Konsul. In February 1937, there came the completely 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 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 over the years 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 the firms would be run to be a single entity, but in a business operated by the man to whom delegation failed to come naturally the growth of legal entities even so added unhelpful layers of complexity over the 1950s and encouraged a broadening in the range which in the long run proved financially unsustainable while using sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.On the list of top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most popular model and remained in production for your life of the organization. In 1960 the Borgward P100 had 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 is also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such since air suspension and automated transmission, the company had trouble competing in the market. While larger companies including Opel and VW took selling point of economies of scale and kept their prices low to realize market share, Borgward's cost structure was even greater than necessary for its dimensions, as it basically managed as four tiny independent companies and never implemented such basic price reduction strategies as joint development and parts sharing between the company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced as being a water-cooled boxer with entry wheel drive, but plagued with problems including water leakage and gearbox glitches. Lloyd lost money on the car although it was more expensive when compared with its direct competitors.In 1961, the company was compelled into liquidation by creditors. Carl Borgward died within July 1963, still insisting the company had been technically solvent. This proved to be true inside the sense that after the creditors were paid entirely, there was still some. 5 million Marks remaining from the business.
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Reports of difficulties at Borgward surfaced in an article that appeared inside Germany's leading news magazine, “Der Spiegel” on 18 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 entry cover. It was strongly essential of Carl Borgward's business approach, and included many on the arguments later advanced to spellout or justify the company's demise. The widest range of cars from any manufacturer in Germany, produced by three until eventually recently operationally autonomous companies (Borgward, Goliath and Lloyd) seemed to be supporting a turnover associated with only 650 million Scars, placing the overall sales value in the combined Borgward auto businesses only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation associated with new and modified types featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") provided rise to components which all too often did not work, broke down or droped apart, resulting in massive payments for pre-delivery remediation and/or publish delivery warranty work that found their in the past to the company.The December 1960 Spiegel article has not been the only serious general public criticism targeting Borgward at this time: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild classifieds and in television reports. Critical media commentaries likewise appeared concerning large loans towards Borgward Group provided through the local Landesbank.It is apparent that the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses for example auto manufacturing use their own expensive machines and tools most efficiently as long as they use them constantly with full capacity, but the car market in Europe inside 1950s/60s was more periodic than today, with sales diminishing with Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was more than usual, reflecting ambitious growth options, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered because of the North American dealers within 1960 (and on the 12, 000 delivered to them) 6, 000 might have to be taken back following a slump in North american demand. (Borgward was not the only European auto maker hit by the North American slump in demand for imported cars while in 1960. In the same season two ships carrying Renault Dauphines were turned back 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 financial institution for a further a single million Marks of credit, the loan to be backed with a guarantee from the Bremen regional government which initially the Bremen senators agreed to provide. However, following the flood regarding critical press comment the senators withdrew their ensure. 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 still hostile media, Borgward agreed to your senate’s terms on several February 1961, thereby averting the bankruptcy with the business.The Bremen Senate likewise insisted on appointing a nominee as chairman with the company’s supervisory board. The man they decided to go with was Johannes Semler to whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice to the breadth of Semler’s occupation. He had studied rules at university and worked initially as being a lawyer. The scion of a respected Hamburg political family, in 1945 he experienced himself been a founding person in the centre-right CSU party, and was a member of the Bundestag between 1950 along with 1953. Despite his Hamburg sources, Semler was by now based in Munich, with a network of contacts inside the Bavarian establishment that almost certainly included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position from the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators in order to chair the Borgward supervisory board would, in retrospect, contribute to the hot debate that followed the Borgward individual bankruptcy.
On 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 to the establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the company to continue to trade while concurrently protecting the interests involving creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November with 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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