Borgward is definitely an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in the actual 1960s. The Borgward group produced four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's grand son, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the company's first new car with over 40 years, the BX7 at the 2015 International Motor Indicate.The origins of Bremen's most significant auto-business return to 1905 with the institution in nearby Varel from the "Hansa Automobilgesellschaft" and the muse in Bremen itself connected with "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and with 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 car business, and he took control of it.
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The first "automobile" Carl Borgward intended was the 1924 Blitzkarren (turbo cart), a sort of very small three-wheeled van with two hp (1. 5 kW), which was an enormous success on the market 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 director of Hansa Lloyd AG having had the oppertunity 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 even 7 hp Goliath Leading. Borgward turned his awareness of the other businesses in addition to led the development with the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 and also in 1939 the name was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from corporations he had acquired over time to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business at a time of austerity and rationing. For many purposes the firms would be run like a single entity, but in a business operated by way of a man to whom delegation wouldn't come naturally the expansion of legal entities however added unhelpful layers of complexity through the 1950s and encouraged a broadening from the range which in the long run proved financially unsustainable with all the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of several top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella commenced in 1954. The Isabella would become Borgward's most popular model and remained in production for the life of the firm. In 1960 the Borgward P100 seemed to be 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 is also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such as air suspension and computerized transmission, the company had trouble competing in the marketplace. While larger companies like Opel and VW took selling point of economies of scale and kept their prices low to get market share, Borgward's cost structure was even more than necessary for its dimension, as it basically handled as four tiny independent companies and don't implemented such basic charge reduction strategies as articulation development and parts sharing between the company's makes. Borgward suffered quality problems too. 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 snags. Lloyd lost money on the car even though it was more expensive in comparison with 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 inside the sense that after the creditors were paid entirely, there was still some. 5 million Marks remaining from the business.
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Stories of difficulties at Borgward surfaced in the article that appeared with Germany's leading news publication, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly critical of Carl Borgward's enterprise approach, and included many from the arguments later advanced to explain or justify the businesses demise. The widest range involving cars from any company in Germany, produced by three right up until recently operationally autonomous firms (Borgward, Goliath and Lloyd) had been supporting a turnover regarding only 650 million Scars, placing the overall sales value from your combined Borgward auto businesses 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 improvements ("fast manisch[e] Konstruierwut") afforded rise to components which too often did not work, broke down or fell apart, resulting in massive costs for pre-delivery remediation and/or write-up delivery warranty work that found their long ago to the company.The December 1960 Spiegel article hasn't been the only serious open public criticism targeting Borgward currently: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild magazine and in television stories. Critical media commentaries furthermore appeared concerning large loans towards Borgward Group provided through the local Landesbank.It is apparent how the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses like auto manufacturing use their particular expensive machines and tools most efficiently as long as they use them constantly in full capacity, but the car market in Europe in the 1950s/60s was more periodic than today, with sales diminishing throughout Winter, then peaking in early summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was beyond usual, reflecting ambitious growth ideas, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered through the North American dealers in 1960 (and from the 12, 000 delivered to them) 6, 000 might have being taken back following a slump in Us demand. (Borgward was not the sole European auto maker hit by the North American slump sought after for imported cars throughout 1960. In the same 12 months two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in Ny 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 rating, the loan to be backed by a guarantee from the Bremen local government which initially the Bremen senators consented to provide. However, following the flood connected with critical press comment the senators withdrew their guarantee. They now required Carl Borgward to pledge the corporation itself to the state in return 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 with the business.The Bremen Senate also insisted on appointing its nominee as chairman with the company’s supervisory board. The man they decided to go with was Johannes Semler to whom 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 occupation. He had studied regulation at university and worked initially being a lawyer. The scion of a number one Hamburg political family, in 1945 he experienced himself been a founding member of the centre-right CSU get together, and was a member of the Bundestag between 1950 as well as 1953. Despite his Hamburg roots, Semler was by this time around based in Munich, with a network of contacts from the Bavarian establishment that almost certainly included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position in the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators to be able to chair the Borgward supervisory board would, in retrospect, contribute to the debate that followed the Borgward a bankruptcy proceeding.
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About 28 July 1961 Semler, as Chairman of this supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the organization to continue to trade while concurrently protecting the interests associated with creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of his very own, never had any objective of allowing the Borgward auto-businesses to help survive.
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