Borgward can be an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in the 1960s. The Borgward group produced four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has since 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 firm's first new car throughout over 40 years, the BX7 at this 2015 International Motor Present.The origins of Bremen's most significant auto-business get back on 1905 with the institution in nearby Varel on the "Hansa Automobilgesellschaft" and the foundation in Bremen itself regarding "Namag", maker of the Lloyd car. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economic situation then confronting Germany, the business failed to prosper and because of the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand this scope of his auto business, and he took control than it.
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The 1st "automobile" Carl Borgward created was the 1924 Blitzkarren (lightning cart), a sort of teeny three-wheeled van with only two 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 many for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the still three wheeler timber presented synthetic leather bodied 5 as well as 7 hp Goliath Leader. Borgward turned his awareness of the other businesses in addition to led the development on the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 as well as 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 a lot of the brand names from businesses 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 during a period of austerity and rationing. For many purposes the lenders would be run being a single entity, but in a business operated by a man to whom delegation didn't come naturally the spreading of legal entities however added unhelpful layers of complexity through the 1950s and encouraged a broadening on the range which eventually proved financially unsustainable using the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.One of many top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's most widely used model and remained in production for that life of the corporation. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a distinct 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 from the German market such because air suspension and automatic transmission, the company had trouble competing available. While larger companies like Opel and VW took advantage of economies of scale along with kept their prices low to realize market share, Borgward's cost structure was even beyond necessary for its dimension, as it basically operated as four tiny independent companies and not implemented such basic price tag reduction strategies as joint development and parts sharing involving the company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced being a water-cooled boxer with entrance wheel drive, but plagued with problems including water leakage and gearbox glitches. Lloyd lost money on the car community . was more expensive compared to its direct competitors.In 1961, the company was required into liquidation by credit card companies. Carl Borgward died throughout July 1963, still insisting the company ended up technically solvent. This proved to be true from the sense that after the particular creditors were paid 100 %, there was still some. 5 million Marks remaining from the business.
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Reports of difficulties at Borgward surfaced in the article that appeared throughout Germany's leading news publication, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly crucial of Carl Borgward's enterprise approach, and included many on the arguments later advanced to spell out or justify the corporation's demise. The widest range of cars from any manufacturer in Germany, produced by three until eventually recently operationally autonomous organizations (Borgward, Goliath and Lloyd) was supporting a turnover regarding only 650 million Marks, placing the overall sales value on the combined Borgward auto corporations only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation involving new and modified designs featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") afforded 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 sources that are to the company.The December 1960 Spiegel article wasn't the only serious public criticism targeting Borgward currently: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild newspapers and in television stories. Critical media commentaries additionally appeared concerning large loans towards Borgward Group provided by the local Landesbank.It is apparent that the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses such as auto manufacturing use their expensive machines and tools most efficiently if 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 throughout Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars towards the end of 1960 was beyond usual, reflecting ambitious growth strategies, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered from the North American dealers within 1960 (and on the 12, 000 delivered to these people) 6, 000 might have to get taken back following a slump in United states demand. (Borgward was not the only real European auto maker hit by way of North American slump widely used for imported cars throughout 1960. In the same year two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the bank for a further one million Marks of credit ratings, the loan to be backed by a guarantee from the Bremen regional government which initially the Bremen senators opted for provide. However, following the flood associated with critical press comment the actual senators withdrew their assurance. They now required Carl Borgward to pledge this company 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 this senate’s terms on four February 1961, thereby averting the bankruptcy on the business.The Bremen Senate likewise insisted on appointing a nominee as chairman from the company’s supervisory board. The man they chose was Johannes Semler who reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice to the breadth of Semler’s job. He had studied law at university and worked initially like a lawyer. The scion of a top Hamburg political family, in 1945 he received himself been a founding person in the centre-right CSU bash, and was a person in the Bundestag between 1950 along with 1953. Despite his Hamburg sources, Semler was by these times based in Munich, with a network of contacts within the Bavarian establishment that most likely included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position inside the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators to be able to chair the Borgward supervisory mother board would, in retrospect, contribute to the conflict that followed the Borgward individual bankruptcy.
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In 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while at the same time protecting the interests involving creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of his own, never had any purpose of allowing the Borgward auto-businesses to survive.
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