Borgward is an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in this 1960s. The Borgward group developed four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grandson, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the business's first new car in over 40 years, the BX7 at this 2015 International Motor Indicate.The origins of Bremen's most significant auto-business go back to 1905 with the institution in nearby Varel on the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself connected with "Namag", maker of the Lloyd car. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and because of the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the actual scope of his auto business, and he took control than it.
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The primary "automobile" Carl Borgward created was the 1924 Blitzkarren (lightning cart), a sort of tiny three-wheeled van with only two 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 overseer of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the nonetheless three wheeler timber presented synthetic leather bodied 5 as well as 7 hp Goliath Pioneer. Borgward turned his care about the other businesses along with led the development of the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 along with in 1939 the label was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from businesses he had acquired in recent times to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business during a period of austerity and rationing. For many purposes the businesses would be run to be a single entity, but in a business operated by way of a man to whom delegation didn't come naturally the proliferation of legal entities on the other hand added unhelpful layers of complexity from the 1950s and encouraged a broadening in the range which in the long run proved financially unsustainable while using sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.Among the top engineers at Borgward coming from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's most favored model and remained in production for that life of the business. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (which has been also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such because air suspension and programmed transmission, the company had trouble competing in the market. While larger companies like Opel and VW took benefit from economies of scale along with kept their prices low to realize market share, Borgward's cost structure was even higher than necessary for its size, as it basically run as four tiny independent companies and never implemented such basic price reduction strategies as mutual development and parts sharing between the company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced being a water-cooled boxer with top wheel drive, but plagued with problems such as water leakage and gearbox mistakes. Lloyd lost money on the car community . was more expensive when compared with its direct competitors.In 1961, the company was pressured into liquidation by collectors. Carl Borgward died within July 1963, still insisting the company ended up technically solvent. This proved to be true inside the sense that after the particular creditors were paid in full, there was still some. 5 million Marks left over from the business.
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Accounts of difficulties at Borgward surfaced within an article that appeared within Germany's leading news magazine, “Der Spiegel” on 18 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 entry cover. It was strongly critical of Carl Borgward's company approach, and included many on the arguments later advanced to describe or justify the businesses demise. The widest range involving cars from any company in Germany, produced by three until finally recently operationally autonomous corporations (Borgward, Goliath and Lloyd) ended up being supporting a turnover regarding only 650 million Represents, placing the overall sales value in the combined Borgward auto organizations only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation associated with new and modified types featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") gave rise to components which all too often did not work, broke down or fell into apart, resulting in massive costs for pre-delivery remediation and/or publish delivery warranty work that found their in the past to the company.The December 1960 Spiegel article was not the only serious public criticism targeting Borgward at this time: suddenly stridently negative (in the event more succinct) comments also turned up in the influential mass-market Bild magazine and in television reports. Critical media commentaries also appeared concerning large loans towards the Borgward Group provided through the local Landesbank.It is apparent the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses for instance auto manufacturing use their particular expensive machines and tools most efficiently if they use them constantly in full capacity, but the car market in Europe inside 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 towards the end of 1960 was higher than usual, reflecting ambitious growth programs, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered with the North American dealers inside 1960 (and on the 12, 000 delivered to these individuals) 6, 000 might have for being taken back following a slump in Us demand. (Borgward was not the one European auto maker hit by way of North American slump popular for imported cars through 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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At the conclusion of December 1960 Borgward approached the lender for a further just one million Marks of credit ratings, the loan to be backed by way of guarantee from the Bremen regional government which initially the Bremen senators consented to provide. However, following the flood involving critical press comment this senators withdrew their ensure. 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 within a still hostile media, Borgward agreed to your senate’s terms on 4 February 1961, thereby averting the bankruptcy from the business.The Bremen Senate likewise insisted on appointing its very own nominee as chairman of the company’s supervisory board. The man they decided to go with was Johannes Semler who reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice on the breadth of Semler’s vocation. He had studied legislations at university and worked initially as being a lawyer. The scion of a top Hamburg political family, in 1945 he got himself been a founding member of the centre-right CSU celebration, and was a person in the Bundestag between 1950 in addition to 1953. Despite his Hamburg beginning, Semler was by on this occasion based in Munich, with a network of contacts in the Bavarian establishment that likely included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position within the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators for you to chair the Borgward supervisory panel would, in retrospect, contribute to the dispute that followed the Borgward a bankruptcy proceeding.
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In 28 July 1961 Semler, as Chairman of the actual 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 the court sanctioned scheme of arrangement enabling this company to continue to trade while simultaneously protecting the interests of creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of their own, never had any goal of allowing the Borgward auto-businesses to help survive.
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