Borgward is surely an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in the actual 1960s. The Borgward group produced four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grandson, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the company's first new car with over 40 years, the BX7 at your 2015 International Motor Display.The origins of Bremen's most significant auto-business return to 1905 with the institution in nearby Varel from the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself involving "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 situation then confronting Germany, the business failed to prosper and from the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand this scope of his automotive business, and he took control from it.
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The primary "automobile" Carl Borgward made was the 1924 Blitzkarren (lightning cart), a sort of small three-wheeled van with two hp (1. 5 kW), which was an enormous success already in the market gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having had the oppertunity 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 framed synthetic leather bodied 5 or 7 hp Goliath Founder. Borgward turned his attention to the other businesses as well as led the development from the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 along with in 1939 the name was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from businesses he had acquired through the years 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 nokia's would be run to be a single entity, but in a business operated by a man to whom delegation did not come naturally the spreading of legal entities on the other hand added unhelpful layers of complexity from the 1950s and encouraged a broadening from the range which ultimately proved financially unsustainable with the sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.One of several top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's most popular model and remained in production for that life of the organization. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers in the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (which was also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such while air suspension and intelligent transmission, the company had trouble competing available on the market. While larger companies just like Opel and VW took benefit of economies of scale along with kept their prices low to realize market share, Borgward's cost structure was even higher than necessary for its sizing, as it basically handled as four tiny independent companies and never implemented such basic expense reduction strategies as mutual development and parts sharing between the company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced as being a water-cooled boxer with entrance wheel drive, but plagued with problems like water leakage and gearbox glitches. Lloyd lost money on the car although it was more expensive than its direct competitors.In 1961, the company was pressured into liquidation by collectors. Carl Borgward died throughout July 1963, still insisting the company have been technically solvent. This proved to be true from the sense that after the actual creditors were paid 100 %, there was still 4. 5 million Marks remaining from the business.
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Reports of difficulties at Borgward surfaced in an article that appeared within Germany's leading news publication, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly vital of Carl Borgward's small business approach, and included many in the arguments later advanced to go into detail or justify the businesses demise. The widest range regarding cars from any manufacturer in Germany, produced by three until recently operationally autonomous businesses (Borgward, Goliath and Lloyd) seemed to be supporting a turnover of only 650 million Represents, placing the overall sales value on the combined Borgward auto companies only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation connected with new and modified designs featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") afforded rise to components which too often did not work, broke down or chop down apart, resulting in massive bills for pre-delivery remediation and/or post delivery warranty work that found their long ago to the company.The December 1960 Spiegel article hasn't been the only serious general public criticism targeting Borgward presently: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild newspapers and in television studies. Critical media commentaries also appeared concerning large loans towards the Borgward Group provided by the local Landesbank.It is apparent which the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses such as auto manufacturing use their expensive machines and tools most efficiently whenever they use them constantly at full capacity, but the car market in Europe within the 1950s/60s was more periodic 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 beyond usual, reflecting ambitious growth options, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered by the North American dealers within 1960 (and on the 12, 000 delivered to them) 6, 000 might have for being taken back following a slump in Us demand. (Borgward was not the only real European auto maker hit by a North American slump successful for imported cars during 1960. In the same calendar year two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached your banker for a further a single million Marks of credit ratings, the loan to be backed by way of a 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 guarantee. 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 still hostile media, Borgward agreed to this senate’s terms on several February 1961, thereby averting the bankruptcy with the business.The Bremen Senate also insisted on appointing a nominee as chairman from the company’s supervisory board. The man they decided was Johannes Semler which reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice to the breadth of Semler’s occupation. He had studied regulation at university and worked initially like a lawyer. The scion of a leading Hamburg political family, in 1945 he had himself been a founding member of the centre-right CSU celebration, and was a member of the Bundestag between 1950 and 1953. Despite his Hamburg beginnings, Semler was by this time based in Munich, with a network of contacts within the 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 in the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators to be able to chair the Borgward supervisory panel would, in retrospect, contribute to the hot debate that followed the Borgward chapter 7.
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Upon 28 July 1961 Semler, as Chairman of the supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided to get a court sanctioned scheme of arrangement enabling the organization to continue to trade while simultaneously protecting the interests connected with creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of his or her own, never had any intention of allowing the Borgward auto-businesses for you to survive.
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