Borgward is an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in your 1960s. The Borgward group made four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's grand son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the company's first new car throughout over 40 years, the BX7 at the 2015 International Motor Present.The origins of Bremen's most significant auto-business resume 1905 with the establishment in nearby Varel from the "Hansa Automobilgesellschaft" and the foundation in Bremen itself associated with "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and through the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand the scope of his automobile business, and he took control of it.
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The primary "automobile" Carl Borgward designed was the 1924 Blitzkarren (turbo cart), a sort of tiny three-wheeled van with 3 hp (1. 5 kW), which was an enormous success on the market gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 or perhaps 7 hp Goliath Leader. Borgward turned his awareness of the other businesses and led the development from the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 and in 1939 the name was shortened to Borgward 2000. The 2000 model was as well as 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 firms he had acquired in recent times 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 to be a single entity, but in a business operated by way of man to whom delegation did not come naturally the spreading of legal entities on the other hand added unhelpful layers of complexity through the 1950s and encouraged a broadening from the range which finally proved financially unsustainable with all the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.Among the top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's most widely used model and remained in production for the life of the corporation. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these learning to be a successful Formula Two power unit (which has been also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such while air suspension and automatic transmission, the company had trouble competing available on the market. While larger companies just like Opel and VW took benefit of economies of scale in addition to kept their prices low to realize market share, Borgward's cost structure was even above necessary for its dimension, as it basically operated as four tiny independent companies and not implemented such basic price tag reduction strategies as joint development and parts sharing relating to the company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced to be a water-cooled boxer with the front wheel drive, but plagued with problems like water leakage and gearbox glitches. Lloyd lost money on the car just about the most was more expensive in comparison with its direct competitors.In 1961, the company was pushed into liquidation by collectors. Carl Borgward died within July 1963, still insisting the company ended up technically solvent. This proved to be true inside the sense that after this creditors were paid fully, there was still several. 5 million Marks remaining from the business.
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Stories of difficulties at Borgward surfaced within an article that appeared within Germany's leading news journal, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly essential of Carl Borgward's company approach, and included many in the arguments later advanced to spell out or justify the corporation's demise. The widest range connected with cars from any company in Germany, produced by three until finally recently operationally autonomous companies (Borgward, Goliath and Lloyd) seemed to be supporting a turnover connected with only 650 million Scars, placing the overall sales value through the combined Borgward auto corporations only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation of new and modified types featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") presented rise to components which too much did not work, broke down or fell into apart, resulting in massive bills for pre-delivery remediation and/or write-up delivery warranty work that found their long ago to the company.The December 1960 Spiegel article hasn't been the only serious public criticism targeting Borgward at the moment: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild paper and in television stories. Critical media commentaries also appeared concerning large loans towards Borgward Group provided with the local Landesbank.It is apparent the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses for instance auto manufacturing use their particular expensive machines and tools most efficiently should they use them constantly with full capacity, but the car market in Europe inside 1950s/60s was more temporary than today, with sales diminishing within Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars right at the end of 1960 was greater than usual, reflecting ambitious growth strategies, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered by the North American dealers throughout 1960 (and from the 12, 000 delivered to these individuals) 6, 000 might have for being taken back following a slump in American demand. (Borgward was not the sole European auto maker hit by way of North American slump widely used for imported cars while in 1960. In the same 12 months two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
By the end of December 1960 Borgward approached the financial institution for a further just one 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 decided provide. However, following the flood associated with critical press comment the particular senators withdrew their assure. 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 the particular senate’s terms on several February 1961, thereby averting the bankruptcy in the business.The Bremen Senate in addition insisted on appointing a nominee as chairman from the company’s supervisory board. The man they decided 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 to the breadth of Semler’s career. He had studied legislations at university and worked initially to be a lawyer. The scion of a leading Hamburg political family, in 1945 he got himself been a founding member of the centre-right CSU bash, and was a person in the Bundestag between 1950 as well as 1953. Despite his Hamburg sources, Semler was by on this occasion based in Munich, with a network of contacts from the Bavarian establishment that possibly included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position inside the Bizone. The appointment of Johannes Semler because 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 individual bankruptcy.
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On 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors from the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the business to continue to trade while as well protecting the interests regarding creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of her own, never had any intent of allowing the Borgward auto-businesses in order to survive.
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