Borgward is 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 developed four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grandson, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the business's first new car inside over 40 years, the BX7 at the particular 2015 International Motor Display.The origins of Bremen's most significant auto-business get back on 1905 with the organization in nearby Varel with the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself involving "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and through the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand the particular scope of his car business, and he took control than it.
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The initial "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 out there gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the even now three wheeler timber presented synthetic leather bodied 5 as well as 7 hp Goliath Leading. Borgward turned his attention to the other businesses as well as led the development in the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 and also 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 a number of the brand names from organizations he had acquired through the years to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business during a period of austerity and rationing. For many purposes the firms would be run being a single entity, but in a business operated by the man to whom delegation didn't come naturally the expansion of legal entities on the other hand added unhelpful layers of complexity throughout the 1950s and encouraged a broadening on the range which finally proved financially unsustainable with all the sales volumes achievable. In 1949 company shown 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 most in-demand model and remained in production with the life of the corporation. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers in the late 1950s, with the 16-valve engine from these becoming a 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 programmed transmission, the company had trouble competing out there. While larger companies similar to Opel and VW took advantage of economies of scale and kept their prices low to gain market share, Borgward's cost structure was even beyond necessary for its sizing, as it basically operated as four tiny independent companies and do not implemented such basic expense reduction strategies as mutual development and parts sharing between company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced being a water-cooled boxer with front wheel drive, but plagued with problems for instance water leakage and gearbox glitches. Lloyd lost money on the car community . was more expensive compared to its direct competitors.In 1961, the company was compelled into liquidation by lenders. Carl Borgward died throughout July 1963, still insisting the company were being technically solvent. This proved to be true inside sense that after the creditors were paid in full, there was still 5. 5 million Marks remaining from the business.
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Reports of difficulties at Borgward surfaced in the article that appeared in Germany's leading news newspaper, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly essential of Carl Borgward's company approach, and included many from the arguments later advanced to describe or justify the corporation's demise. The widest range connected with cars from any supplier in Germany, produced by three till recently operationally autonomous corporations (Borgward, Goliath and Lloyd) has been supporting a turnover of only 650 million Represents, placing the overall sales value from your combined Borgward auto corporations only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation involving new and modified versions featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") offered rise to components which too often did not work, broke down or droped apart, resulting in massive costs for pre-delivery remediation and/or article delivery warranty work that found their in the past to the company.The December 1960 Spiegel article hasn't been the only serious community criticism targeting Borgward right now: suddenly stridently negative (when more succinct) comments also turned up in the influential mass-market Bild paper and in television reports. Critical media commentaries in addition appeared concerning large loans towards the Borgward Group provided by the local Landesbank.It is apparent that the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses including auto manufacturing use their own expensive machines and tools most efficiently whenever they use them constantly in full capacity, but the car market in Europe within the 1950s/60s was more seasons than today, with sales diminishing inside Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars towards the end of 1960 was greater than usual, reflecting ambitious growth strategies, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered with the North American dealers in 1960 (and of the 12, 000 delivered to these people) 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 a North American slump popular for imported cars during 1960. In the same 12 months two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached your banker for a further one particular million Marks of credit ratings, the loan to be backed by the guarantee from the Bremen local government which initially the Bremen senators decided provide. However, following the flood regarding critical press comment this senators withdrew their assurance. They now required Carl Borgward to pledge the organization itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in the still hostile media, Borgward agreed to your senate’s terms on 4 February 1961, thereby averting the bankruptcy in the business.The Bremen Senate additionally insisted on appointing its very own nominee as chairman from the company’s supervisory board. The man they selected was Johannes Semler whom reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice towards breadth of Semler’s career. He had studied regulation at university and worked initially as being a lawyer. The scion of a number one Hamburg political family, in 1945 he had himself been a founding member of the centre-right CSU celebration, and was a person in the Bundestag between 1950 in addition to 1953. Despite his Hamburg sources, Semler was by on this occasion based in Munich, with a network of contacts within the Bavarian establishment that possibly included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position inside the Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators for you to chair the Borgward supervisory panel would, in retrospect, contribute to the hot debate that followed the Borgward personal 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 just a court sanctioned scheme of arrangement enabling the business to continue to trade while simultaneously protecting the interests regarding creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of his very own, never had any intent of allowing the Borgward auto-businesses for you to survive.
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