Borgward is usually an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the 1960s. The Borgward group produced four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's grand son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the corporation's first new car within over 40 years, the BX7 at the 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business return to 1905 with the establishment in nearby Varel from the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself involving "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 in order 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 through the late 1920s faced chapter 7. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand this scope of his automobile business, and he took control of computer.
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The 1st "automobile" Carl Borgward intended was the 1924 Blitzkarren (super cart), a sort of very small 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 bought for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the movie director 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 nevertheless three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Founder. Borgward turned his attention to the other businesses and led the development in the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and also in 1939 the title was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from companies he had acquired through the years to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business at the same time of austerity and rationing. For many purposes the lenders would be run as a single entity, but in a business operated with a man to whom delegation did not come naturally the proliferation of legal entities nonetheless added unhelpful layers of complexity through the 1950s and encouraged a broadening from the range which in the end proved financially unsustainable while using sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of several top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella commenced in 1954. The Isabella would become Borgward's most favored model and remained in production to the life of the corporation. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (which was also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such because air suspension and automated transmission, the company had trouble competing available. While larger companies such as Opel and VW took benefit of economies of scale as well as kept their prices low to achieve market share, Borgward's cost structure was even higher than necessary for its dimensions, as it basically run as four tiny independent companies and not implemented such basic price tag reduction strategies as shared development and parts sharing between your company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced being a water-cooled boxer with entry wheel drive, but plagued with problems such as water leakage and gearbox snags. Lloyd lost money on the car although it was more expensive than its direct competitors.In 1961, the company was compelled into liquidation by creditors. Carl Borgward died in July 1963, still insisting the company had been technically solvent. This proved to be true inside sense that after the creditors were paid 100 %, there was still 4. 5 million Marks left over from the business.
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Accounts of difficulties at Borgward surfaced in a article that appeared with Germany's leading news mag, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly essential of Carl Borgward's organization approach, and included many in the arguments later advanced to describe or justify the company's demise. The widest range of cars from any company in Germany, produced by three right up until recently operationally autonomous organizations (Borgward, Goliath and Lloyd) had been supporting a turnover involving only 650 million Represents, placing the overall sales value on the combined Borgward auto firms only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using 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 too much did not work, broke down or chop down apart, resulting in massive expenses for pre-delivery remediation and/or article delivery warranty work that found their way back to the company.The December 1960 Spiegel article has not been the only serious open public criticism targeting Borgward right now: suddenly stridently negative (in case more succinct) comments also resulted in in the influential mass-market Bild newspapers and in television reports. Critical media commentaries also appeared concerning large loans on the Borgward Group provided through the local Landesbank.It is apparent that this business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses for example auto manufacturing use their own expensive machines and tools most efficiently should they use them constantly in 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 early summer months: Borgward’s inventory of unsold cars towards the end of 1960 was beyond usual, reflecting ambitious growth plans, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered by the North American dealers throughout 1960 (and from the 12, 000 delivered to these individuals) 6, 000 might have to get taken back following a slump in North american demand. (Borgward was not the only European auto maker hit by way of North American slump successful for imported cars during 1960. In the same yr 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 the bank for a further one particular million Marks of credit history, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators decided provide. However, following the flood associated with critical press comment your senators withdrew their guarantee. 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 inside a still hostile media, Borgward agreed to the actual senate’s terms on 4 February 1961, thereby averting the bankruptcy in the business.The Bremen Senate additionally insisted on appointing a nominee as chairman of the company’s supervisory board. The man they decided was Johannes Semler which reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice towards breadth of Semler’s career. He had studied legislations at university and worked initially as being a lawyer. The scion of a top Hamburg political family, in 1945 he experienced himself been a founding person in the centre-right CSU get together, and was a member of the Bundestag between 1950 in addition to 1953. Despite his Hamburg beginnings, Semler was by now based in Munich, with a network of contacts within the Bavarian establishment that almost certainly included fellow CSU politician along with 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 because representative of the Bremen senators to help chair the Borgward supervisory panel would, in retrospect, contribute to the debate that followed the Borgward bankruptcy.
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Upon 28 July 1961 Semler, as Chairman of your supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings to the establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the organization to continue to trade while simultaneously protecting the interests associated with creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of their own, never had any intention of allowing the Borgward auto-businesses in order to survive.
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