Borgward is an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in this 1960s. The Borgward group created four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's grandson, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the corporation's first new car throughout over 40 years, the BX7 at the actual 2015 International Motor Show.The origins of Bremen's most significant auto-business go back to 1905 with the organization in nearby Varel on the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself associated with "Namag", maker of the Lloyd car. 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 by the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand the scope of his automotive business, and he took control of it.
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The very first "automobile" Carl Borgward created was the 1924 Blitzkarren (turbo cart), a sort of little 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 ordered for delivery. The Reichspost ordered some of them for postal service.In 1929, Borgward became the overseer 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 however three wheeler timber presented synthetic leather bodied 5 or maybe 7 hp Goliath Pioneer. Borgward turned his focus on the other businesses as well as led the development of the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 and in 1939 the identify was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from businesses he had acquired in the past to found three independent 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 nokia's would be run as a single entity, but in a business operated by the man to whom delegation didn't come naturally the growth of legal entities however added unhelpful layers of complexity from the 1950s and encouraged a broadening in the range which in the long run proved financially unsustainable with the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.One of many top engineers at Borgward coming from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella commenced in 1954. The Isabella would become Borgward's most widely used model and remained in production to the life of the firm. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (that is also used by some 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 available on the market. While larger companies including Opel and VW took benefit of economies of scale and kept their prices low to get market share, Borgward's cost structure was even higher than necessary for its dimension, as it basically managed as four tiny independent companies rather than implemented such basic expense reduction strategies as mutual development and parts sharing between company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced like a water-cooled boxer with entry wheel drive, but plagued with problems like water leakage and gearbox mistakes. Lloyd lost money on the car just about the most was more expensive in comparison with its direct competitors.In 1961, the company was required into liquidation by lenders. Carl Borgward died with July 1963, still insisting the company had been technically solvent. This proved to be true within the sense that after this creditors were paid in full, there was still 5. 5 million Marks left over from the business.
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Accounts of difficulties at Borgward surfaced in the article that appeared inside Germany's leading news mag, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly essential of Carl Borgward's small business approach, and included many in the arguments later advanced to spell out or justify the business's demise. The widest range connected with cars from any producer in Germany, produced by three until recently operationally autonomous firms (Borgward, Goliath and Lloyd) ended up being supporting a turnover involving only 650 million Represents, placing the overall sales value in the combined Borgward auto firms only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation associated with new and modified products featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") offered rise to components which excessively did not work, broke down or droped apart, resulting in massive bills for pre-delivery remediation and/or publish delivery warranty work that found their long ago to the company.The December 1960 Spiegel article was not the only serious general public criticism targeting Borgward currently: suddenly stridently negative (in the event more succinct) comments also resulted in in the influential mass-market Bild newspapers and in television reports. Critical media commentaries in addition appeared concerning large loans on the Borgward Group provided by the local Landesbank.It is apparent which the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses like auto manufacturing use his or her expensive machines and tools most efficiently whenever they use them constantly with full capacity, but the car market in Europe within the 1950s/60s was more seasons than today, with sales diminishing within Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was above usual, reflecting ambitious growth plans, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered because of the North American dealers in 1960 (and on the 12, 000 delivered to these people) 6, 000 might have to be taken back following a slump in American demand. (Borgward was not the one European auto maker hit by way of a North American slump sought after for imported cars while in 1960. In the same yr two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached the lending company for a further 1 million Marks of credit ratings, the loan to be backed by way of a guarantee from the Bremen regional government which initially the Bremen senators decided to provide. However, following the flood of critical press comment this senators withdrew their guarantee. They now required Carl Borgward to pledge the corporation itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported inside a still hostile media, Borgward agreed to the actual senate’s terms on 4 February 1961, thereby averting the bankruptcy on the business.The Bremen Senate furthermore insisted on appointing its own nominee as chairman on the company’s supervisory board. The man they select was Johannes Semler whom reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice for the breadth of Semler’s profession. He had studied rules at university and worked initially as a lawyer. The scion of a leading Hamburg political family, in 1945 he got himself been a founding person in the centre-right CSU bash, and was a person in the Bundestag between 1950 and 1953. Despite his Hamburg origins, Semler was by now based in Munich, with a network of contacts in the Bavarian establishment that possibly included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position within the Bizone. The appointment of Johannes Semler because representative of the Bremen senators in order to chair the Borgward supervisory panel would, in retrospect, contribute to the conflict that followed the Borgward personal bankruptcy.
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Upon 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling the organization to continue to trade while simultaneously protecting the interests associated with creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his or her own, never had any intention of allowing the Borgward auto-businesses to survive.
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