Borgward is an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the particular 1960s. The Borgward group produced four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grand son, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the businesses first new car with over 40 years, the BX7 at this 2015 International Motor Show.The origins of Bremen's most significant auto-business go back to 1905 with the establishment in nearby Varel from the "Hansa Automobilgesellschaft" and the muse in Bremen itself connected with "Namag", maker of the Lloyd auto. These two businesses merged in 1914 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 through the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand your scope of his car business, and he took control from it.
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The primary "automobile" Carl Borgward intended was the 1924 Blitzkarren (super cart), a sort of teeny three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget purchased for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the nevertheless three wheeler timber framed synthetic leather bodied 5 or 7 hp Goliath Leader. Borgward turned his care about the other businesses as well as led the development from the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 in addition to in 1939 the title was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from corporations he had acquired over time to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business at a time of austerity and rationing. For many purposes nokia's would be run as being a single entity, but in a business operated by way of man to whom delegation did not come naturally the spreading of legal entities nonetheless added unhelpful layers of complexity over the 1950s and encouraged a broadening on the range which in the long run proved financially unsustainable with all the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of several top engineers at Borgward coming from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's most favored model and remained in production for that life of the business. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers in the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that has been also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such since air suspension and automated transmission, the company had trouble competing available on the market. While larger companies similar to Opel and VW took benefit from economies of scale and also kept their prices low to realize market share, Borgward's cost structure was even higher than necessary for its measurement, as it basically run as four tiny independent companies rather than implemented such basic cost reduction strategies as shared development and parts sharing relating to the company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced to be a water-cooled boxer with front wheel drive, but plagued with problems such as 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 forced into liquidation by lenders. Carl Borgward died throughout July 1963, still insisting the company ended up technically solvent. This proved to be true within the sense that after this creditors were paid completely, there was still 5. 5 million Marks left over from the business.
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Reports of difficulties at Borgward surfaced within the article that appeared within Germany's leading news newspaper, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly important of Carl Borgward's organization approach, and included many with the arguments later advanced to explain or justify the firm's demise. The widest range connected with cars from any producer in Germany, produced by three till recently operationally autonomous organizations (Borgward, Goliath and Lloyd) ended up being supporting a turnover regarding only 650 million Grades, placing the overall sales value from the combined Borgward auto firms only in fifth location 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 innovative developments ("fast manisch[e] Konstruierwut") provided 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 made use of to the company.The December 1960 Spiegel article was not the only serious general public criticism targeting Borgward at this time: suddenly stridently negative (in case more succinct) comments also resulted in in the influential mass-market Bild magazine and in television stories. Critical media commentaries in addition appeared concerning large loans towards the Borgward Group provided with the local Landesbank.It is apparent that the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses like auto manufacturing use their expensive machines and tools most efficiently should they use them constantly with full capacity, but the car market in Europe inside the 1950s/60s was more in season than today, with sales diminishing within Winter, then peaking in early summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was more than usual, reflecting ambitious growth ideas, 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 on the 12, 000 delivered to them) 6, 000 might have to become taken back following a slump in United states demand. (Borgward was not the one European auto maker hit by way of a North American slump popular for imported cars through 1960. In the same 12 months two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached your banker for a further just one million Marks of credit score, the loan to be backed by way of a guarantee from the Bremen local government which initially the Bremen senators agreed to provide. However, following the flood involving critical press comment the senators withdrew their ensure. They now required Carl Borgward to pledge the business itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported inside a still hostile media, Borgward agreed to the particular senate’s terms on some February 1961, thereby averting the bankruptcy with the business.The Bremen Senate also insisted on appointing its very own nominee as chairman with the company’s supervisory board. The man they decided to go with was Johannes Semler to whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice towards the breadth of Semler’s profession. He had studied legislation at university and worked initially as being a lawyer. The scion of a top Hamburg political family, in 1945 he got himself been a founding member of the centre-right CSU get together, and was a member of the Bundestag between 1950 along with 1953. Despite his Hamburg beginning, Semler was by this time based in Munich, with a network of contacts in the Bavarian establishment that likely included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position in the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators to help chair the Borgward supervisory board would, in retrospect, contribute to the debate that followed the Borgward a bankruptcy proceeding.
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About 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 a court sanctioned scheme of arrangement enabling this company to continue to trade while while doing so protecting the interests associated with creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his or her own, never had any intent of allowing the Borgward auto-businesses to survive.
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