Borgward is an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in the actual 1960s. The Borgward group made four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's son, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the company's first new car within over 40 years, the BX7 at the actual 2015 International Motor Present.The origins of Bremen's most significant auto-business resume 1905 with the business in nearby Varel from the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself connected with "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economy then confronting Germany, the business failed to prosper and because of the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand the scope of his automotive business, and he took control of the usb ports.
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The very first "automobile" Carl Borgward designed was the 1924 Blitzkarren (super cart), a sort of little three-wheeled van with 3 hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 or maybe 7 hp Goliath Leader. Borgward turned his focus on the other businesses along with led the development on the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 and in 1939 the name was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from businesses he had acquired over the years to found three independent 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 the businesses would be run like a single entity, but in a business operated by way of a man to whom delegation didn't come naturally the growth of legal entities however added unhelpful layers of complexity over the 1950s and encouraged a broadening in the range which in the end proved financially unsustainable while 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 started in 1954. The Isabella would become Borgward's most popular model and remained in production for the life of the firm. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (that was also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such as air suspension and automated transmission, the company had trouble competing out there. While larger companies similar to Opel and VW took good thing about economies of scale in addition to kept their prices low to gain market share, Borgward's cost structure was even higher than necessary for its dimensions, as it basically operated as four tiny independent companies and not implemented such basic expense reduction strategies as joint development and parts sharing between the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced like a water-cooled boxer with top wheel drive, but plagued with problems like water leakage and gearbox snags. Lloyd lost money on the car even though it was more expensive as compared to its direct competitors.In 1961, the company was required into liquidation by credit card companies. Carl Borgward died within July 1963, still insisting the company had been technically solvent. This proved to be true within the sense that after the actual creditors were paid in full, there was still 4. 5 million Marks left over from the business.
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Reviews of difficulties at Borgward surfaced within an article that appeared with Germany's leading news magazine, “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 the front cover. It was strongly important of Carl Borgward's enterprise approach, and included many in the arguments later advanced to describe or justify the business's demise. The widest range connected with cars from any producer in Germany, produced by three until recently operationally autonomous businesses (Borgward, Goliath and Lloyd) had been supporting a turnover connected with only 650 million Grades, placing the overall sales value from your combined Borgward auto firms only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation involving new and modified models featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") gave rise to components which excessively did not work, broke down or chop down apart, resulting in massive expenses for pre-delivery remediation and/or post delivery warranty work that found their in the past to the company.The December 1960 Spiegel article has not been the only serious open criticism targeting Borgward presently: suddenly stridently negative (when more succinct) comments also turned up in the influential mass-market Bild classifieds and in television stories. Critical media commentaries also appeared concerning large loans to the Borgward Group provided with the local Landesbank.It is apparent which the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses like auto manufacturing use their own expensive machines and tools most efficiently whenever they use them constantly with full capacity, but the car market in Europe in the 1950s/60s was more seasonal than today, with sales diminishing inside Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars by the end of 1960 was above usual, reflecting ambitious growth programs, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered by the North American dealers inside 1960 (and from the 12, 000 delivered to them) 6, 000 might have being taken back following a slump in Us demand. (Borgward was not the one European auto maker hit with a North American slump sought after for imported cars through 1960. In the same year two ships carrying Renault Dauphines were turned back in 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 way of a guarantee from the Bremen local government which initially the Bremen senators agreed to provide. However, following the flood regarding critical press comment the particular senators withdrew their ensure. 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 inside a still hostile media, Borgward agreed to this senate’s terms on several February 1961, thereby averting the bankruptcy in the business.The Bremen Senate furthermore insisted on appointing a unique nominee as chairman with the company’s supervisory board. The man they select was Johannes Semler who reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice towards the breadth of Semler’s profession. He had studied rules at university and worked initially like a lawyer. The scion of a top Hamburg political family, in 1945 he got himself been a founding member of the centre-right CSU bash, and was a person in the Bundestag between 1950 and also 1953. Despite his Hamburg origins, Semler was by now based in Munich, with a network of contacts in the Bavarian establishment that most likely included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position from the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators to be able to chair the Borgward supervisory mother board would, in retrospect, contribute to the dispute that followed the Borgward chapter 7.
About 28 July 1961 Semler, as Chairman of your supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the business to continue to trade while as well protecting the interests regarding creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of her own, never had any goal of allowing the Borgward auto-businesses for you to survive.
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