Borgward is definitely an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the actual 1960s. The Borgward group made four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's son, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the company's first new car throughout over 40 years, the BX7 at the actual 2015 International Motor Display.The origins of Bremen's most significant auto-business resume 1905 with the institution in nearby Varel in the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself involving "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and by the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand this scope of his automotive business, and he took control from it.
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The 1st "automobile" Carl Borgward created was the 1924 Blitzkarren (turbo cart), a sort of teeny three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the nevertheless three wheeler timber framed synthetic leather bodied 5 or 7 hp Goliath Leading. Borgward turned his care about the other businesses and also led the development with the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 in addition to in 1939 the identify was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from businesses he had acquired in recent times to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business each time of austerity and rationing. For many purposes the companies would be run to be a single entity, but in a business operated with a man to whom delegation did not come naturally the expansion of legal entities nevertheless added unhelpful layers of complexity from the 1950s and encouraged a broadening from the range which eventually 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 from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most widely used model and remained in production for that life of the business. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers within the late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (that has been also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such while air suspension and computerized transmission, the company had trouble competing in the market. While larger companies like Opel and VW took selling point of economies of scale along with kept their prices low to get market share, Borgward's cost structure was even greater than necessary for its measurement, as it basically handled as four tiny independent companies and not implemented such basic price reduction strategies as shared development and parts sharing between company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced as a water-cooled boxer with top wheel drive, but plagued with problems including water leakage and gearbox glitches. Lloyd lost money on the car community . was more expensive as compared to its direct competitors.In 1961, the company was compelled into liquidation by credit card companies. Carl Borgward died within July 1963, still insisting the company had been technically solvent. This proved to be true within the sense that after this creditors were paid entirely, there was still 4. 5 million Marks left over from the business.
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Stories of difficulties at Borgward surfaced within the article that appeared inside Germany's leading news mag, “Der Spiegel” on 14 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 the front cover. It was strongly crucial of Carl Borgward's small business approach, and included many of 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 corporations (Borgward, Goliath and Lloyd) was supporting a turnover of only 650 million Represents, placing the overall sales value through the combined Borgward auto organizations only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation connected with new and modified products featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") offered rise to components which all too often did not work, broke down or chop down apart, resulting in massive payments for pre-delivery remediation and/or write-up delivery warranty work that found their in the past to the company.The December 1960 Spiegel article wasn't the only serious open public criticism targeting Borgward at the moment: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild classifieds and in television studies. Critical media commentaries in addition appeared concerning large loans for the Borgward Group provided because of the local Landesbank.It is apparent how the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses including auto manufacturing use their own expensive machines and tools most efficiently whenever they use them constantly from full capacity, but the car market in Europe in the 1950s/60s was more periodic than today, with sales diminishing with Winter, then peaking in early summer months: Borgward’s inventory of unsold cars towards the end of 1960 was beyond usual, reflecting ambitious growth options, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered from the North American dealers inside 1960 (and with the 12, 000 delivered to these individuals) 6, 000 might have being taken back following a slump in American demand. (Borgward was not really the only European auto maker hit by the North American slump in demand for imported cars during 1960. In the same yr two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in Big apple were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the bank for a further 1 million Marks of credit, the loan to be backed by the guarantee from the Bremen local government which initially the Bremen senators opted for provide. However, following the flood involving critical press comment the senators withdrew their ensure. 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 the particular senate’s terms on several February 1961, thereby averting the bankruptcy from the business.The Bremen Senate likewise insisted on appointing its very own nominee as chairman from the company’s supervisory board. The man they chose was Johannes Semler with whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice for the breadth of Semler’s career. He had studied rules at university and worked initially to be a lawyer. The scion of a respected Hamburg political family, in 1945 he acquired himself been a founding member of the centre-right CSU bash, and was a person in the Bundestag between 1950 in addition to 1953. Despite his Hamburg origins, Semler was by this time around based in Munich, with a network of contacts inside the Bavarian establishment that likely included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position within the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators in order to chair the Borgward supervisory panel would, in retrospect, contribute to the dispute that followed the Borgward individual bankruptcy.
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In 28 July 1961 Semler, as Chairman of this 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 the court sanctioned scheme of arrangement enabling the company to continue to trade while concurrently protecting the interests of creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of his own, never had any goal of allowing the Borgward auto-businesses to be able to survive.
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