Borgward is surely an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the particular 1960s. The Borgward group made four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the business's first new car within over 40 years, the BX7 at the particular 2015 International Motor Show.The origins of Bremen's most significant auto-business get back on 1905 with the institution in nearby Varel in the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself associated with "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial 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 of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand the actual scope of his vehicle business, and he took control of it.
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The first "automobile" Carl Borgward intended was the 1924 Blitzkarren (super cart), a sort of tiny three-wheeled van with only two hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the even now three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Founder. Borgward turned his focus on the other businesses and also led the development from the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 in addition to in 1939 the title was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from firms he had acquired in the past to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business at any given time of austerity and rationing. For many purposes the businesses would be run to be a single entity, but in a business operated by the man to whom delegation did not come naturally the proliferation of legal entities however added unhelpful layers of complexity from the 1950s and encouraged a broadening on the range which in the end proved financially unsustainable while using sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.Among the top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most favored model and remained in production for the life of the company. In 1960 the Borgward P100 seemed to be 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 becoming a successful Formula Two power unit (which was also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such since air suspension and programmed transmission, the company had trouble competing available on the market. While larger companies like Opel and VW took benefit from economies of scale as well as kept their prices low to realize market share, Borgward's cost structure was even beyond necessary for its measurement, as it basically operated as four tiny independent companies and don't implemented such basic price tag reduction strategies as shared development and parts sharing between the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced as being a water-cooled boxer with the front wheel drive, but plagued with problems for example water leakage and gearbox snags. Lloyd lost money on the car although it was more expensive when compared with its direct competitors.In 1961, the company was forced into liquidation by creditors. Carl Borgward died within July 1963, still insisting the company have been technically solvent. This proved to be true inside the sense that after your creditors were paid in full, there was still some. 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 newspaper, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly critical of Carl Borgward's small business approach, and included many with the arguments later advanced to spellout or justify the firm's demise. The widest range associated with cars from any maker in Germany, produced by three until recently operationally autonomous firms (Borgward, Goliath and Lloyd) has been supporting a turnover of only 650 million Represents, placing the overall sales value in the combined Borgward auto corporations only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation regarding new and modified products featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") provided rise to components which too often did not work, broke down or chop down apart, resulting in massive charges for pre-delivery remediation and/or submit delivery warranty work that found their long ago to the company.The December 1960 Spiegel article had not been the only serious community criticism targeting Borgward currently: suddenly stridently negative (in the event that more succinct) comments also resulted in in the influential mass-market Bild magazine and in television reports. Critical media commentaries in addition appeared concerning large loans towards the Borgward Group provided with the local Landesbank.It is apparent how the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses like auto manufacturing use their particular expensive machines and tools most efficiently whenever they use them constantly from full capacity, but the car market in Europe within the 1950s/60s was more periodic than today, with sales diminishing inside Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was more than usual, reflecting ambitious growth options, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered because of the North American dealers within 1960 (and of the 12, 000 delivered to them) 6, 000 might have being taken back following a slump in Us demand. (Borgward was not really the only European auto maker hit by a North American slump popular for imported cars throughout 1960. In the same year two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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By 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 a guarantee from the Bremen regional government which initially the Bremen senators decided to provide. However, following the flood of critical press comment your senators withdrew their assurance. They now required Carl Borgward to pledge the company itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported in a very still hostile media, Borgward agreed to the actual 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 of the company’s supervisory board. The man they decided to go with was Johannes Semler whom 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 profession. He had studied legislations at university and worked initially as a lawyer. The scion of a leading Hamburg political family, in 1945 he got himself been a founding person in the centre-right CSU party, and was a member of the Bundestag between 1950 in addition to 1953. Despite his Hamburg origins, Semler was by these times based in Munich, with a network of contacts within the Bavarian establishment that likely included fellow CSU politician as well as 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 because the representative of the Bremen senators in order to chair the Borgward supervisory mother board would, in retrospect, contribute to the dispute that followed the Borgward bankruptcy.
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On 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors with 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 the company to continue to trade while concurrently protecting the interests regarding creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of their own, never had any goal of allowing the Borgward auto-businesses to survive.
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