Borgward is surely an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in the particular 1960s. The Borgward group generated four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grand son, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from China investment, and unveiled the corporation's first new car inside over 40 years, the BX7 at the 2015 International Motor Present.The origins of Bremen's most significant auto-business return to 1905 with the establishment in nearby Varel from the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself of "Namag", maker of the Lloyd automobile. 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 with the late 1920s faced chapter 7. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand this scope of his vehicle business, and he took control of computer.
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The primary "automobile" Carl Borgward created was the 1924 Blitzkarren (lightning cart), a sort of very small three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Co. " 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 Founder. Borgward turned his awareness of the other businesses in addition to led the development on the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 and in 1939 the name was shortened to Borgward 2000. The 2000 model was accompanied by 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 companies he had acquired in recent times to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business at the same 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 a man to whom delegation failed to come naturally the spreading of legal entities even so added unhelpful layers of complexity from the 1950s and encouraged a broadening in the range which eventually proved financially unsustainable while using 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 out in 1954. The Isabella would become Borgward's most popular model and remained in production to the life of the firm. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers from the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (that is also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such since air suspension and automated transmission, the company had trouble competing out there. While larger companies including Opel and VW took advantage of economies of scale and 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 don't implemented such basic price reduction strategies as combined development and parts sharing between your company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced to be a water-cooled boxer with top wheel drive, but plagued with problems for instance water leakage and gearbox snags. Lloyd lost money on the car just about the most was more expensive compared to its direct competitors.In 1961, the company was pressured into liquidation by loan companies. Carl Borgward died throughout July 1963, still insisting the company have been technically solvent. This proved to be true in the sense that after the actual creditors were paid 100 %, there was still four. 5 million Marks left over from the business.
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Stories of difficulties at Borgward surfaced in the article that appeared throughout Germany's leading news mag, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places repetitive 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 business approach, and included many from the arguments later advanced to go into detail or justify the corporation's demise. The widest range involving cars from any manufacturer in Germany, produced by three till recently operationally autonomous businesses (Borgward, Goliath and Lloyd) ended up being supporting a turnover of only 650 million Grades, placing the overall sales value from the combined Borgward auto organizations only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation connected with new and modified versions featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") provided rise to components which too much did not work, broke down or droped apart, resulting in massive costs for pre-delivery remediation and/or publish delivery warranty work that found their way back to the company.The December 1960 Spiegel article had not been the only serious open criticism targeting Borgward currently: suddenly stridently negative (in case more succinct) comments also turned up in the influential mass-market Bild magazine and in television reports. Critical media commentaries in addition appeared concerning large loans towards the Borgward Group provided with the local Landesbank.It is apparent that this business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses such as auto manufacturing use his or her expensive machines and tools most efficiently when they use them constantly in full capacity, but the car market in Europe from the 1950s/60s was more periodic than today, with sales diminishing with Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars by the end of 1960 was higher than usual, reflecting ambitious growth ideas, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered from the North American dealers in 1960 (and with the 12, 000 delivered to these people) 6, 000 might have to be taken back following a slump in Us demand. (Borgward was not the only European auto maker hit with a North American slump popular for imported cars during 1960. In the same year two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached the financial institution for a further a single million Marks of credit history, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators opted for provide. However, following the flood regarding critical press comment the actual senators withdrew their promise. They now required Carl Borgward to pledge this company itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in a still hostile media, Borgward agreed to the actual senate’s terms on several February 1961, thereby averting the bankruptcy in the business.The Bremen Senate likewise insisted on appointing its own nominee as chairman in the company’s supervisory board. The man they select was Johannes Semler which reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice towards breadth of Semler’s career. He had studied legislation at university and worked initially as being a lawyer. The scion of a leading Hamburg political family, in 1945 he acquired himself been a founding person in the centre-right CSU gathering, and was a person in the Bundestag between 1950 as well as 1953. Despite his Hamburg roots, Semler was by these times based in Munich, with a network of contacts from the Bavarian establishment that likely included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position within the Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators to chair the Borgward supervisory board would, in retrospect, contribute to the hot debate that followed the Borgward bankruptcy.
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Upon 28 July 1961 Semler, as Chairman of the supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling this company to continue to trade while concurrently protecting the interests regarding creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of her own, never had any intent of allowing the Borgward auto-businesses to survive.
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