Borgward can be an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the particular 1960s. The Borgward group developed four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grandson, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the firm's first new car inside over 40 years, the BX7 at your 2015 International Motor Display.The origins of Bremen's most significant auto-business get back to 1905 with the institution in nearby Varel of the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself of "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and with the late 1920s faced bankruptcy. 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 automobile business, and he took control than it.
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The 1st "automobile" Carl Borgward made was the 1924 Blitzkarren (lightning cart), a sort of very small three-wheeled van with a couple of 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 most of them for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the nevertheless three wheeler timber presented synthetic leather bodied 5 or even 7 hp Goliath Leader. Borgward turned his attention to the other businesses and led the development in the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 and also in 1939 the identify was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from corporations he had acquired over time to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business at the same time 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 man to whom delegation would not come naturally the spreading of legal entities however added unhelpful layers of complexity from the 1950s and encouraged a broadening of the range which ultimately proved financially unsustainable using the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.One of the top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella commenced in 1954. The Isabella would become Borgward's most favored model and remained in production for that life of the corporation. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that has been also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such seeing that air suspension and computerized transmission, the company had trouble competing available. While larger companies including Opel and VW took benefit of economies of scale and kept their prices low to find market share, Borgward's cost structure was even beyond necessary for its dimension, as it basically run as four tiny independent companies and not implemented such basic price tag reduction strategies as articulation development and parts sharing involving the company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced as a water-cooled boxer with entrance wheel drive, but plagued with problems like water leakage and gearbox snags. Lloyd lost money on the car even though it was more expensive than its direct competitors.In 1961, the company was compelled into liquidation by collectors. Carl Borgward died throughout July 1963, still insisting the company were being technically solvent. This proved to be true inside the sense that after the creditors were paid 100 %, there was still several. 5 million Marks left from the business.
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Reviews of difficulties at Borgward surfaced in a article that appeared throughout Germany's leading news publication, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly vital of Carl Borgward's company approach, and included many of the arguments later advanced to spell out or justify the firm's demise. The widest range of cars from any maker in Germany, produced by three until finally recently operationally autonomous firms (Borgward, Goliath and Lloyd) seemed to be supporting a turnover connected with only 650 million Grades, placing the overall sales value in the combined Borgward auto companies only in fifth placement 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 improvements ("fast manisch[e] Konstruierwut") presented rise to components which all too often did not work, broke down or dropped apart, resulting in massive payments for pre-delivery remediation and/or submit delivery warranty work that found their way back to the company.The December 1960 Spiegel article had not been the only serious community criticism targeting Borgward right now: suddenly stridently negative (in case more succinct) comments also resulted in in the influential mass-market Bild newspaper and in television reviews. Critical media commentaries furthermore appeared concerning large loans towards Borgward Group provided because of the local Landesbank.It is apparent which the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses for instance auto manufacturing use their own expensive machines and tools most efficiently whenever they use them constantly in full capacity, but the car market in Europe from the 1950s/60s was more seasonal than today, with sales diminishing within Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars at the end of 1960 was beyond usual, reflecting ambitious growth plans, 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 on the 12, 000 delivered to all of them) 6, 000 might have being taken back following a slump in American demand. (Borgward was not the one European auto maker hit by the North American slump popular for imported cars in the course of 1960. In the same season two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
At the conclusion of December 1960 Borgward approached the lending company for a further one million Marks of credit history, the loan to be backed by way of a guarantee from the Bremen local government which initially the Bremen senators decided to provide. However, following the flood involving critical press comment the actual senators withdrew their promise. They now required Carl Borgward to pledge the corporation itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported in the still hostile media, Borgward agreed to the actual senate’s terms on 4 February 1961, thereby averting the bankruptcy of the business.The Bremen Senate additionally insisted on appointing its very own nominee as chairman in the company’s supervisory board. The man they selected was Johannes Semler who reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice for the breadth of Semler’s vocation. He had studied regulation at university and worked initially being a lawyer. The scion of a number one Hamburg political family, in 1945 he got himself been a founding member of the centre-right CSU get together, and was a person in the Bundestag between 1950 in addition to 1953. Despite his Hamburg beginnings, Semler was by this time around based in Munich, with a network of contacts inside the Bavarian establishment that possibly included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position inside the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators for you to chair the Borgward supervisory mother board would, in retrospect, contribute to the hot debate that followed the Borgward chapter 7.
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In 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 to the establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the company to continue to trade while concurrently protecting the interests associated with creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of his or her own, never had any purpose of allowing the Borgward auto-businesses to survive.
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