Borgward is an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in this 1960s. The Borgward group created four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's grandson, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the company's first new car in over 40 years, the BX7 at the 2015 International Motor Present.The origins of Bremen's most significant auto-business get back to 1905 with the organization in nearby Varel with the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself associated with "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economic situation then confronting Germany, the business failed to prosper and through the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand your scope of his automotive business, and he took control of computer.
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The initial "automobile" Carl Borgward intended was the 1924 Blitzkarren (turbo cart), a sort of very small three-wheeled van with two hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the nonetheless three wheeler timber presented synthetic leather bodied 5 or maybe 7 hp Goliath Founder. Borgward turned his attention to the other businesses and also led the development in the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 along with in 1939 the label was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from businesses he had acquired in the past to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business at a time of austerity and rationing. For many purposes the companies would be run like a single entity, but in a business operated with a man to whom delegation did not come naturally the proliferation of legal entities even so added unhelpful layers of complexity through the 1950s and encouraged a broadening from the range which in the long run proved financially unsustainable while using sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.On the list of 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 hottest model and remained in production for your life of the firm. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (which was also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such since air suspension and automated transmission, the company had trouble competing out there. While larger companies including Opel and VW took benefit from economies of scale and also kept their prices low to gain market share, Borgward's cost structure was even greater than necessary for its sizing, as it basically controlled as four tiny independent companies and do not implemented such basic charge reduction strategies as joint development and parts sharing relating to the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced being a water-cooled boxer with the front wheel drive, but plagued with problems such as water leakage and gearbox secrets. Lloyd lost money on the car even though it was more expensive than its direct competitors.In 1961, the company was required into liquidation by credit card companies. Carl Borgward died with July 1963, still insisting the company was technically solvent. This proved to be true inside sense that after your creditors were paid entirely, there was still four. 5 million Marks left over from the business.
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Reviews of difficulties at Borgward surfaced within an article that appeared inside Germany's leading news journal, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly critical of Carl Borgward's organization approach, and included many from the arguments later advanced to spell out or justify the business's demise. The widest range regarding cars from any producer in Germany, produced by three until finally recently operationally autonomous firms (Borgward, Goliath and Lloyd) ended up being supporting a turnover connected with only 650 million Grades, placing the overall sales value from the combined Borgward auto firms only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation of new and modified models featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") offered rise to components which too much did not work, broke down or chop down apart, resulting in massive costs for pre-delivery remediation and/or publish delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article wasn't the only serious community criticism targeting Borgward at this time: suddenly stridently negative (in the event that more succinct) comments also resulted in in the influential mass-market Bild newspaper and in television reviews. Critical media commentaries also appeared concerning large loans towards Borgward Group provided from the local Landesbank.It is apparent that this business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses including auto manufacturing use his or her expensive machines and tools most efficiently should they use them constantly from full capacity, but the car market in Europe in the 1950s/60s was more periodic than today, with sales diminishing throughout 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 options, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered through the North American dealers with 1960 (and on the 12, 000 delivered to all of them) 6, 000 might have to get taken back following a slump in United states demand. (Borgward was not the only real European auto maker hit with a North American slump in demand for imported cars through 1960. In the same season two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Big apple were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached your banker for a further one particular 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 regarding critical press comment your senators withdrew their assure. 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 senate’s terms on 4 February 1961, thereby averting the bankruptcy of the business.The Bremen Senate in addition insisted on appointing its very own nominee as chairman with the company’s supervisory board. The man they decided was Johannes Semler to whom reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice towards breadth of Semler’s vocation. He had studied rules at university and worked initially being a lawyer. The scion of a respected Hamburg political family, in 1945 he got himself been a founding member of the centre-right CSU gathering, and was a member of the Bundestag between 1950 as well as 1953. Despite his Hamburg origins, Semler was by on this occasion based in Munich, with a network of contacts inside the Bavarian establishment that almost certainly included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position from the Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators to chair the Borgward supervisory aboard would, in retrospect, contribute to the debate that followed the Borgward bankruptcy.
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With 28 July 1961 Semler, as Chairman of the supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling this company to continue to trade while at the same time protecting the interests connected with creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his or her own, never had any objective of allowing the Borgward auto-businesses for you to survive.
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