Borgward is usually an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in this 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 Oriental investment, and unveiled the business's first new car with over 40 years, the BX7 at your 2015 International Motor Show.The origins of Bremen's most significant auto-business get back on 1905 with the business in nearby Varel with the "Hansa Automobilgesellschaft" and the muse in Bremen itself involving "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and because of the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand your scope of his vehicle business, and he took control of it.
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The 1st "automobile" Carl Borgward designed was the 1924 Blitzkarren (turbo cart), a sort of very small three-wheeled van with only two hp (1. 5 kW), which was an enormous success already in the market gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the however three wheeler timber framed synthetic leather bodied 5 or 7 hp Goliath Founder. Borgward turned his care about the other businesses along with led the development on the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 and also in 1939 the identify 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 a few of the brand names from corporations he had acquired over the years to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business at a time of austerity and rationing. For many purposes nokia's would be run to be a single entity, but in a business operated by way of a man to whom delegation would not come naturally the growth of legal entities however added unhelpful layers of complexity over the 1950s and encouraged a broadening from the range which in the end proved financially unsustainable while using sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.Among the top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's most popular model and remained in production for that life of the company. In 1960 the Borgward P100 has been 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 learning to be a successful Formula Two power unit (that has been also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such while air suspension and computerized transmission, the company had trouble competing available. While larger companies just like Opel and VW took good thing about economies of scale as well as kept their prices low to get market share, Borgward's cost structure was even higher than necessary for its dimensions, as it basically handled as four tiny independent companies and don't implemented such basic cost reduction strategies as mutual development and parts sharing relating to the company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced as being a water-cooled boxer with front wheel drive, but plagued with problems for instance water leakage and gearbox errors. Lloyd lost money on the car even though it was more expensive when compared with its direct competitors.In 1961, the company was pushed into liquidation by collectors. Carl Borgward died with July 1963, still insisting the company had been technically solvent. This proved to be true inside sense that after your creditors were paid in full, there was still some. 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 publication, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly important of Carl Borgward's enterprise approach, and included many in the arguments later advanced to go into detail or justify the firm's demise. The widest range connected with cars from any company in Germany, produced by three till recently operationally autonomous businesses (Borgward, Goliath and Lloyd) ended up being supporting a turnover regarding only 650 million Represents, placing the overall sales value through the combined Borgward auto companies only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation regarding new and modified designs featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") offered rise to components which excessively did not work, broke down or droped apart, resulting in massive charges for pre-delivery remediation and/or article delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article had not been the only serious open criticism targeting Borgward at the moment: suddenly stridently negative (in case more succinct) comments also turned up in the influential mass-market Bild paper and in television stories. Critical media commentaries in addition appeared concerning large loans for the Borgward Group provided with the local Landesbank.It is apparent which the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses for example auto manufacturing use their expensive machines and tools most efficiently as long as they use them constantly with full capacity, but the car market in Europe within the 1950s/60s was more temporary than today, with sales diminishing inside Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars right at the end of 1960 was beyond usual, reflecting ambitious growth options, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered with the North American dealers within 1960 (and with the 12, 000 delivered to all of them) 6, 000 might have to become taken back following a slump in American demand. (Borgward was not really the only European auto maker hit by the North American slump popular for imported cars during 1960. In the same calendar year two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the financial institution for a further just one million Marks of credit history, the loan to be backed by way of guarantee from the Bremen regional government which initially the Bremen senators decided provide. However, following the flood involving critical press comment the actual senators withdrew their assure. 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 within a still hostile media, Borgward agreed to your senate’s terms on some February 1961, thereby averting the bankruptcy of the business.The Bremen Senate likewise insisted on appointing its nominee as chairman from the company’s supervisory board. The man they decided was Johannes Semler to whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice on the breadth of Semler’s career. He had studied legislation at university and worked initially like a lawyer. The scion of a leading Hamburg political family, in 1945 he received himself been a founding person in the centre-right CSU party, and was a member of the Bundestag between 1950 and also 1953. Despite his Hamburg beginnings, Semler was by now based in Munich, with a network of contacts inside the Bavarian establishment that most likely included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position from the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators in order to chair the Borgward supervisory panel would, in retrospect, contribute to the hot debate that followed the Borgward personal bankruptcy.
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On 28 July 1961 Semler, as Chairman of this supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the organization to continue to trade while while doing so protecting the interests of creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of her own, never had any objective of allowing the Borgward auto-businesses for you to survive.
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