Borgward is an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in the particular 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 lover Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the company's first new car throughout over 40 years, the BX7 at the actual 2015 International Motor Display.The origins of Bremen's most significant auto-business go back to 1905 with the establishment 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 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economic situation then confronting Germany, the business failed to prosper and with the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the particular scope of his automobile business, and he took control of computer.
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The 1st "automobile" Carl Borgward created was the 1924 Blitzkarren (lightning cart), a sort of small three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success available 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 movie director of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 or 7 hp Goliath Leading. Borgward turned his awareness of the other businesses and also led the development of the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 as well as in 1939 the label was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from organizations he had acquired in recent times to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business each time of austerity and rationing. For many purposes the firms would be run as a single entity, but in a business operated by way of man to whom delegation would not come naturally the expansion of legal entities however added unhelpful layers of complexity from the 1950s and encouraged a broadening with the range which in the end 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 begun in 1954. The Isabella would become Borgward's most popular model and remained in production with the life of the corporation. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers from the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that has been also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such while air suspension and automated transmission, the company had trouble competing in the market. While larger companies just like Opel and VW took benefit from economies of scale and also kept their prices low to find market share, Borgward's cost structure was even more than necessary for its dimensions, as it basically operated as four tiny independent companies rather than implemented such basic expense reduction strategies as mutual development and parts sharing involving the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced as a water-cooled boxer with entry wheel drive, but plagued with problems like water leakage and gearbox glitches. Lloyd lost money on the car though it was more expensive when compared with its direct competitors.In 1961, the company was pressured into liquidation by creditors. Carl Borgward died throughout July 1963, still insisting the company had been technically solvent. This proved to be true inside the sense that after the particular creditors were paid fully, there was still several. 5 million Marks left from the business.
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Studies of difficulties at Borgward surfaced within the article that appeared throughout Germany's leading news magazine, “Der Spiegel” on age 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 critical of Carl Borgward's business approach, and included many of the arguments later advanced to go into detail or justify the businesses demise. The widest range regarding cars from any producer in Germany, produced by three right up until recently operationally autonomous companies (Borgward, Goliath and Lloyd) had been supporting a turnover involving only 650 million Represents, placing the overall sales value on the 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 versions featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") afforded rise to components which too often did not work, broke down or fell apart, resulting in massive expenses for pre-delivery remediation and/or write-up delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article hasn't been the only serious open criticism targeting Borgward at the moment: suddenly stridently negative (in the event that more succinct) comments also turned up in the influential mass-market Bild magazine and in television stories. Critical media commentaries in addition appeared concerning large loans towards Borgward Group provided because of the local Landesbank.It is apparent how the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses for example auto manufacturing use the expensive machines and tools most efficiently if they use them constantly on full capacity, but the car market in Europe in the 1950s/60s was more temporary than today, with sales diminishing with Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars by the end of 1960 was above usual, reflecting ambitious growth plans, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered through the North American dealers with 1960 (and with the 12, 000 delivered to all of them) 6, 000 might have to get taken back following a slump in American demand. (Borgward was not the only European auto maker hit by the North American slump popular for imported cars throughout 1960. In the same 12 months two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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At the conclusion of December 1960 Borgward approached the lending company for a further one million Marks of credit history, the loan to be backed by way of a guarantee from the Bremen local government which initially the Bremen senators decided to provide. However, following the flood regarding critical press comment this senators withdrew their assurance. They now required Carl Borgward to pledge the business itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported within a still hostile media, Borgward agreed to this senate’s terms on some February 1961, thereby averting the bankruptcy from the business.The Bremen Senate additionally insisted on appointing a unique nominee as chairman from the company’s supervisory board. The man they decided was Johannes Semler which reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice towards breadth of Semler’s occupation. He had studied legislation at university and worked initially being a lawyer. The scion of a leading Hamburg political family, in 1945 he experienced himself been a founding person in the centre-right CSU bash, and was a member of the Bundestag between 1950 along with 1953. Despite his Hamburg sources, Semler was by on this occasion based in Munich, with a network of contacts in the Bavarian establishment that probably included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position in the Bizone. The appointment of Johannes Semler because representative of the Bremen senators for you to chair the Borgward supervisory board would, in retrospect, contribute to the conflict that followed the Borgward personal bankruptcy.
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About 28 July 1961 Semler, as Chairman of your supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings for your 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 associated with creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of their own, never had any objective of allowing the Borgward auto-businesses for you to survive.
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