Borgward can be an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in the particular 1960s. The Borgward group made four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the business's first new car in over 40 years, the BX7 at this 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business go back to 1905 with the business in nearby Varel from the "Hansa Automobilgesellschaft" and the inspiration 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 economic situation then confronting Germany, the business failed to prosper and from the late 1920s faced chapter 7. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand this scope of his vehicle business, and he took control from it.
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The initial "automobile" Carl Borgward intended was the 1924 Blitzkarren (super cart), a sort of very small three-wheeled van with 2 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 some of them for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the nevertheless three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Pioneer. Borgward turned his care about the other businesses and led the development with the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 as well as in 1939 the label was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from firms he had acquired over time to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business at the same 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 wouldn't come naturally the spreading of legal entities nonetheless added unhelpful layers of complexity through the 1950s and encouraged a broadening with the range which in the end proved financially unsustainable with all the sales volumes achievable. In 1949 company presented 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 commenced in 1954. The Isabella would become Borgward's most popular model and remained in production to the life of the business. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these learning to be a successful Formula Two power unit (that was also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such since air suspension and automated transmission, the company had trouble competing available on the market. While larger companies like Opel and VW took good thing about economies of scale and also kept their prices low to find market share, Borgward's cost structure was even higher than necessary for its measurement, as it basically operated as four tiny independent companies and never implemented such basic expense reduction strategies as articulation development and parts sharing between the company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced to be a water-cooled boxer with entry wheel drive, but plagued with problems including water leakage and gearbox glitches. Lloyd lost money on the car though it was more expensive than its direct competitors.In 1961, the company was pushed into liquidation by lenders. Carl Borgward died with July 1963, still insisting the company ended up technically solvent. This proved to be true in the sense that after the creditors were paid in full, there was still several. 5 million Marks left over from the business.
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Reports of difficulties at Borgward surfaced in an article that appeared within Germany's leading news newspaper, “Der Spiegel” on 15 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 entrance cover. It was strongly critical of Carl Borgward's company approach, and included many of the arguments later advanced to explain or justify the businesses demise. The widest range involving cars from any supplier in Germany, produced by three right up until recently operationally autonomous organizations (Borgward, Goliath and Lloyd) ended up being supporting a turnover of only 650 million Marks, placing the overall sales value from your combined Borgward auto corporations only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation of new and modified versions featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") offered rise to components which many times did not work, broke down or fell apart, resulting in massive payments for pre-delivery remediation and/or post 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 presently: suddenly stridently negative (in the event that more succinct) comments also resulted in in the influential mass-market Bild newspaper and in television accounts. Critical media commentaries in addition appeared concerning large loans to the Borgward Group provided with the local Landesbank.It is apparent the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses for instance auto manufacturing use their expensive machines and tools most efficiently when they use them constantly at full capacity, but the car market in Europe in the 1950s/60s was more seasons than today, with sales diminishing throughout Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was greater than usual, reflecting ambitious growth programs, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered from the North American dealers with 1960 (and from the 12, 000 delivered to these people) 6, 000 might have to become taken back following a slump in United states demand. (Borgward was not the sole European auto maker hit by way of North American slump in demand for imported cars while in 1960. In the same 12 months 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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Right at the end of December 1960 Borgward approached your banker for a further a single million Marks of credit rating, the loan to be backed by way of a guarantee from the Bremen regional government which initially the Bremen senators opted for provide. However, following the flood regarding critical press comment this senators withdrew their promise. They now required Carl Borgward to pledge the business itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported within a still hostile media, Borgward agreed to the senate’s terms on 4 February 1961, thereby averting the bankruptcy with the business.The Bremen Senate furthermore insisted on appointing a unique nominee as chairman on the company’s supervisory board. The man they chose was Johannes Semler whom reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice towards breadth of Semler’s job. He had studied regulation at university and worked initially being a lawyer. The scion of a number one Hamburg political family, in 1945 he acquired himself been a founding member of the centre-right CSU party, and was a person in the Bundestag between 1950 along with 1953. Despite his Hamburg beginnings, Semler was by now based in Munich, with a network of contacts inside Bavarian establishment that possibly included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position inside the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators in order to chair the Borgward supervisory mother board would, in retrospect, contribute to the controversy that followed the Borgward bankruptcy.
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Upon 28 July 1961 Semler, as Chairman of this supervisory board joined the directors with 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 business to continue to trade while while doing so protecting the interests regarding creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his very own, never had any objective of allowing the Borgward auto-businesses to survive.
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