Borgward is an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in your 1960s. The Borgward group developed four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grand son, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the business's first new car within over 40 years, the BX7 at your 2015 International Motor Display.The origins of Bremen's most significant auto-business go back to 1905 with the establishment in nearby Varel on the "Hansa Automobilgesellschaft" and the walls in Bremen itself involving "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and from 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 actual scope of his vehicle business, and he took control than it.
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The primary "automobile" Carl Borgward made was the 1924 Blitzkarren (super cart), a sort of small three-wheeled van with a couple of 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 many for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the nevertheless three wheeler timber framed synthetic leather bodied 5 or 7 hp Goliath Leading. Borgward turned his focus on the other businesses along with led the development with the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 and also in 1939 the label was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from corporations he had acquired in recent times to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business each time of austerity and rationing. For many purposes the firms would be run being a single entity, but in a business operated by way of man to whom delegation would not come naturally the growth of legal entities nevertheless added unhelpful layers of complexity with the 1950s and encouraged a broadening of the range which finally proved financially unsustainable using the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.On the list of top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most in-demand model and remained in production to the life of the business. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers in the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (which has been also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such because air suspension and computerized transmission, the company had trouble competing in the marketplace. While larger companies just like Opel and VW took benefit from economies of scale as well as kept their prices low to get market share, Borgward's cost structure was even more than necessary for its sizing, as it basically managed as four tiny independent companies and do not implemented such basic cost reduction strategies as shared development and parts sharing between company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced being a water-cooled boxer with entry wheel drive, but plagued with problems including water leakage and gearbox mistakes. Lloyd lost money on the car though it was more expensive compared to its direct competitors.In 1961, the company was required into liquidation by lenders. Carl Borgward died within July 1963, still insisting the company have been technically solvent. This proved to be true inside sense that after the creditors were paid fully, there was still four. 5 million Marks remaining from the business.
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Reports of difficulties at Borgward surfaced in an article that appeared with Germany's leading news journal, “Der Spiegel” on 15 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 business approach, and included many of the arguments later advanced to explain or justify the business's demise. The widest range involving cars from any supplier in Germany, produced by three right up until recently operationally autonomous businesses (Borgward, Goliath and Lloyd) seemed to be supporting a turnover of only 650 million Signifies, placing the overall sales value on 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 innovations ("fast manisch[e] Konstruierwut") gave rise to components which excessively did not work, broke down or dropped apart, resulting in massive expenses for pre-delivery remediation and/or write-up delivery warranty work that found their long ago to the company.The December 1960 Spiegel article was not the only serious general public criticism targeting Borgward at the moment: 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 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 at the end of 1960. Capital intensive businesses for instance auto manufacturing use the expensive machines and tools most efficiently if they use them constantly from full capacity, but the car market in Europe inside the 1950s/60s was more seasonal than today, with sales diminishing in Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars towards the end of 1960 was more than usual, reflecting ambitious growth programs, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered by the North American dealers in 1960 (and with the 12, 000 delivered to all of them) 6, 000 might have to become taken back following a slump in Us demand. (Borgward was not the sole European auto maker hit by a North American slump widely used for imported cars while in 1960. In the same year two ships carrying Renault Dauphines were turned back 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 bank for a further a single million Marks of credit history, the loan to be backed by a guarantee from the Bremen local government which initially the Bremen senators agreed to provide. However, following the flood regarding 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 the still hostile media, Borgward agreed to this senate’s terms on 5 February 1961, thereby averting the bankruptcy of the business.The Bremen Senate also insisted on appointing its very own nominee as chairman with the company’s supervisory board. The man they select was Johannes Semler who reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice towards breadth of Semler’s vocation. He had studied regulation at university and worked initially to be a lawyer. The scion of a number one Hamburg political family, in 1945 he acquired 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 roots, Semler was by these times based in Munich, with a network of contacts inside 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 as the representative of the Bremen senators to chair the Borgward supervisory board would, in retrospect, contribute to the dispute that followed the Borgward chapter 7.
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On 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 that establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling the organization to continue to trade while as well protecting the interests involving creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of his or her own, never had any purpose of allowing the Borgward auto-businesses to be able to survive.
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