Borgward is definitely an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in this 1960s. The Borgward group generated four brands of vehicles: 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 Chinese language investment, and unveiled the company's first new car throughout over 40 years, the BX7 at your 2015 International Motor Indicate.The origins of Bremen's most significant auto-business go back to 1905 with the business in nearby Varel in the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself involving "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and from the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the actual scope of his car 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 3 hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the even now three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Leader. Borgward turned his focus on the other businesses along with led the development in the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 and also in 1939 the brand was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from organizations he had acquired in the past to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business at any given time of austerity and rationing. For many purposes the companies would be run as a single entity, but in a business operated by way of a man to whom delegation failed to come naturally the expansion of legal entities nevertheless added unhelpful layers of complexity throughout the 1950s and encouraged a broadening in the range which eventually proved financially unsustainable with the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.On the list of top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most favored model and remained in production for the life of the organization. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers in the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that was also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such as air suspension and programmed transmission, the company had trouble competing available on the market. While larger companies including Opel and VW took benefit of economies of scale along with kept their prices low to get market share, Borgward's cost structure was even more than necessary for its sizing, as it basically handled as four tiny independent companies and never implemented such basic price tag reduction strategies as joint development and parts sharing between your company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced being a water-cooled boxer with entry wheel drive, but plagued with problems including water leakage and gearbox errors. Lloyd lost money on the car though it was more expensive in comparison with 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 were being technically solvent. This proved to be true inside the sense that after the particular creditors were paid 100 %, there was still 4. 5 million Marks left over from the business.
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Reviews of difficulties at Borgward surfaced in a article that appeared throughout Germany's leading news publication, “Der Spiegel” on fourteen 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 crucial of Carl Borgward's enterprise approach, and included many with the arguments later advanced to spell out or justify the corporation's demise. The widest range involving cars from any company in Germany, produced by three right up until recently operationally autonomous corporations (Borgward, Goliath and Lloyd) has been supporting a turnover regarding only 650 million Grades, placing the overall sales value through the combined Borgward auto businesses only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation involving new and modified types featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") offered rise to components which all too often did not work, broke down or fell into apart, resulting in massive charges for pre-delivery remediation and/or publish delivery warranty work that found their long ago to the company.The December 1960 Spiegel article had not been the only serious community criticism targeting Borgward right now: suddenly stridently negative (when more succinct) comments also turned up in the influential mass-market Bild paper and in television reviews. Critical media commentaries likewise appeared concerning large loans towards the Borgward Group provided by the local Landesbank.It is apparent that the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses for instance auto manufacturing use the expensive machines and tools most efficiently as long as they use them constantly at full capacity, but the car market in Europe in the 1950s/60s was more seasons than today, with sales diminishing within Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars by the end of 1960 was more than usual, reflecting ambitious growth ideas, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered from the North American dealers throughout 1960 (and on the 12, 000 delivered to these people) 6, 000 might have to become taken back following a slump in North american demand. (Borgward was not the only real European auto maker hit by a North American slump successful for imported cars through 1960. In the same 12 months two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in Big apple were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached your banker for a further 1 million Marks of credit, the loan to be backed with a guarantee from the Bremen regional government which initially the Bremen senators decided to provide. However, following the flood connected with critical press comment the actual senators withdrew their assurance. They now required Carl Borgward to pledge the business 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 some February 1961, thereby averting the bankruptcy in the business.The Bremen Senate in addition insisted on appointing its nominee as chairman in the company’s supervisory board. The man they decided to go with was Johannes Semler whom reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice towards the breadth of Semler’s profession. He had studied legislations at university and worked initially as being a lawyer. The scion of a number one 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 sources, 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 and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position inside the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators for you to chair the Borgward supervisory board would, in retrospect, contribute to the dispute that followed the Borgward individual bankruptcy.
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Upon 28 July 1961 Semler, as Chairman of the supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the business to continue to trade while at the same time protecting the interests of 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” include suggested that Semler, for reasons of their own, never had any intention of allowing the Borgward auto-businesses to survive.
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