Borgward can be an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in your 1960s. The Borgward group created four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grandson, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from China investment, and unveiled the businesses first new car in over 40 years, the BX7 at the 2015 International Motor Show.The origins of Bremen's most significant auto-business get back to 1905 with the organization in nearby Varel in the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself of "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and by the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand your scope of his automotive business, and he took control of it.
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The initial "automobile" Carl Borgward created was the 1924 Blitzkarren (turbo cart), a sort of tiny three-wheeled van with 2 hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having had the oppertunity 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 maybe 7 hp Goliath Master. Borgward turned his attention to the other businesses along with led the development with the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 along with in 1939 the brand was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from corporations he had acquired in the past to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business at the same time of austerity and rationing. For many purposes the lenders would be run being a single entity, but in a business operated by the man to whom delegation did not come naturally the proliferation of legal entities on the other hand added unhelpful layers of complexity over the 1950s and encouraged a broadening on the range which in the long run proved financially unsustainable using the sales volumes achievable. In 1949 company offered 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 in-demand model and remained in production for your life of the company. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that has been also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such seeing that air suspension and automated transmission, the company had trouble competing in the market. While larger companies including Opel and VW took benefit from economies of scale in addition to kept their prices low to realize market share, Borgward's cost structure was even more than necessary for its measurement, as it basically run as four tiny independent companies and don't implemented such basic cost reduction strategies as shared development and parts sharing between your company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced like a water-cooled boxer with entry wheel drive, but plagued with problems like water leakage and gearbox errors. Lloyd lost money on the car community . was more expensive in comparison with its direct competitors.In 1961, the company was pushed into liquidation by credit card companies. Carl Borgward died within July 1963, still insisting the company had been technically solvent. This proved to be true inside sense that after the creditors were paid fully, there was still several. 5 million Marks left from the business.
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Reports of difficulties at Borgward surfaced within an article that appeared in Germany's leading news journal, “Der Spiegel” on 14 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 the front cover. It was strongly essential of Carl Borgward's small business approach, and included many on the arguments later advanced to spellout or justify the firm's demise. The widest range associated with cars from any supplier in Germany, produced by three until finally recently operationally autonomous businesses (Borgward, Goliath and Lloyd) seemed to be supporting a turnover of only 650 million Marks, placing the overall sales value from the combined Borgward auto organizations only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation of new and modified models featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") presented rise to components which many times did not work, broke down or chop down apart, resulting in massive payments for pre-delivery remediation and/or write-up delivery warranty work that found their in the past to the company.The December 1960 Spiegel article had not been the only serious community criticism targeting Borgward at the moment: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild classifieds and in television stories. Critical media commentaries additionally appeared concerning large loans towards Borgward Group provided by the local Landesbank.It is apparent how the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses for instance auto manufacturing use their expensive machines and tools most efficiently as long as they use them constantly in full capacity, but the car market in Europe within the 1950s/60s was more seasonal 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 more than usual, reflecting ambitious growth plans, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered because of the North American dealers throughout 1960 (and from the 12, 000 delivered to all of them) 6, 000 might have being taken back following a slump in North american demand. (Borgward was not the only real European auto maker hit by way of a North American slump sought after for imported cars while in 1960. In the same calendar year two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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At the conclusion of December 1960 Borgward approached the lender for a further a single million Marks of credit score, the loan to be backed by way of a guarantee from the Bremen local government which initially the Bremen senators opted for provide. However, following the flood associated with critical press comment the actual senators withdrew their assure. 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 in a still hostile media, Borgward agreed to the senate’s terms on 5 February 1961, thereby averting the bankruptcy from the business.The Bremen Senate also insisted on appointing its own nominee as chairman from the company’s supervisory board. The man they decided to go with was Johannes Semler which reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice on the breadth of Semler’s profession. He had studied legislations at university and worked initially like a lawyer. The scion of a number one Hamburg political family, in 1945 he received himself been a founding member of the centre-right CSU bash, and was a member of the Bundestag between 1950 in addition to 1953. Despite his Hamburg beginnings, Semler was by this time around based in Munich, with a network of contacts inside Bavarian establishment that most likely included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position from the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators for you to chair the Borgward supervisory aboard would, in retrospect, contribute to the controversy that followed the Borgward a bankruptcy proceeding.
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Upon 28 July 1961 Semler, as Chairman of this 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 enterprise to continue to trade while at the same time protecting the interests of creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his very own, never had any intent of allowing the Borgward auto-businesses to help survive.
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