Borgward is definitely an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in the actual 1960s. The Borgward group produced four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the company's first new car inside over 40 years, the BX7 at the particular 2015 International Motor Indicate.The origins of Bremen's most significant auto-business resume 1905 with the institution in nearby Varel with the "Hansa Automobilgesellschaft" and the muse in Bremen itself associated with "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 in order to create 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 individual bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand the particular scope of his auto business, and he took control of it.
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The primary "automobile" Carl Borgward made was the 1924 Blitzkarren (turbo cart), a sort of teeny three-wheeled van with 3 hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered some 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 & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 or 7 hp Goliath Pioneer. Borgward turned his awareness of the other businesses in addition to led the development of the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 along with in 1939 the title was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from companies he had acquired over time to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business at any given time of austerity and rationing. For many purposes the lenders would be run as a single entity, but in a business operated by way of man to whom delegation would not come naturally the expansion of legal entities however added unhelpful layers of complexity with the 1950s and encouraged a broadening on the range which finally proved financially unsustainable while using sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.One of several top engineers at Borgward through 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 to the life of the corporation. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers from the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (that is also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such because air suspension and automated transmission, the company had trouble competing available on the market. While larger companies including Opel and VW took selling point of economies of scale and also kept their prices low to achieve market share, Borgward's cost structure was even higher than necessary for its size, as it basically handled as four tiny independent companies and not implemented such basic price tag reduction strategies as articulation development and parts sharing involving the company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced being a water-cooled boxer with entrance wheel drive, but plagued with problems including water leakage and gearbox errors. Lloyd lost money on the car community . was more expensive than its direct competitors.In 1961, the company was pressured into liquidation by lenders. Carl Borgward died with July 1963, still insisting the company have been technically solvent. This proved to be true inside sense that after the creditors were paid completely, there was still several. 5 million Marks left from the business.
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Stories of difficulties at Borgward surfaced in the article that appeared within Germany's leading news publication, “Der Spiegel” on 14 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 the front cover. It was strongly important of Carl Borgward's enterprise approach, and included many in the arguments later advanced to spell out or justify the firm's demise. The widest range of cars from any manufacturer in Germany, produced by three until recently operationally autonomous organizations (Borgward, Goliath and Lloyd) was supporting a turnover of only 650 million Grades, placing the overall sales value on the combined Borgward auto companies only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation associated with new and modified versions featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") provided rise to components which too often did not work, broke down or chop down apart, resulting in massive costs for pre-delivery remediation and/or publish delivery warranty work that found their long ago to the company.The December 1960 Spiegel article has not been the only serious open criticism targeting Borgward right now: suddenly stridently negative (in case more succinct) comments also resulted in in the influential mass-market Bild classifieds and in television reports. Critical media commentaries in addition appeared concerning large loans on the Borgward Group provided with the local Landesbank.It is apparent that the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses such as auto manufacturing use his or her expensive machines and tools most efficiently when they use them constantly at full capacity, but the car market in Europe within the 1950s/60s was more seasonal than today, with sales diminishing throughout Winter, then peaking in 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 the usa market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered with the North American dealers with 1960 (and on the 12, 000 delivered to them) 6, 000 might have to be taken back following a slump in American demand. (Borgward was not the sole European auto maker hit by way of a North American slump popular for imported cars throughout 1960. In the same calendar year two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached your banker for a further just one million Marks of credit rating, the loan to be backed by a guarantee from the Bremen local government which initially the Bremen senators decided provide. However, following the flood of critical press comment the senators withdrew their ensure. They now required Carl Borgward to pledge the company itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in a very still hostile media, Borgward agreed to your senate’s terms on 4 February 1961, thereby averting the bankruptcy with the business.The Bremen Senate additionally insisted on appointing a unique nominee as chairman on the company’s supervisory board. The man they decided to go with was Johannes Semler which reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice towards breadth of Semler’s profession. He had studied rules 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 get together, and was a person in the Bundestag between 1950 and 1953. Despite his Hamburg beginning, Semler was by this time around 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 inside a top administrative position within the Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators in order to chair the Borgward supervisory panel would, in retrospect, contribute to the controversy that followed the Borgward bankruptcy.
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On 28 July 1961 Semler, as Chairman of this supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the company to continue to trade while simultaneously protecting the interests involving creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath organizations 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 be able to survive.
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