Borgward is an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in the particular 1960s. The Borgward group made four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's son, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the businesses 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 return to 1905 with the organization in nearby Varel of the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself of "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and by the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand the actual scope of his automobile business, and he took control of computer.
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The initial "automobile" Carl Borgward designed was the 1924 Blitzkarren (super cart), a sort of teeny three-wheeled van with 2 hp (1. 5 kW), which was an enormous success already in the market gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the nevertheless three wheeler timber framed synthetic leather bodied 5 or maybe 7 hp Goliath Master. Borgward turned his awareness of the other businesses as well as led the development on the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 along with in 1939 the label was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from corporations he had acquired in recent times to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business at a time of austerity and rationing. For many purposes nokia's would be run as being a single entity, but in a business operated by way of a man to whom delegation would not come naturally the proliferation of legal entities nonetheless added unhelpful layers of complexity with the 1950s and encouraged a broadening from the range which in the end proved financially unsustainable while using the sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.One of the 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 to the life of the business. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a distinct 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 several F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such while air suspension and automatic transmission, the company had trouble competing in the marketplace. While larger companies like Opel and VW took benefit from economies of scale along with kept their prices low to get market share, Borgward's cost structure was even greater than necessary for its size, as it basically managed as four tiny independent companies and never implemented such basic price reduction strategies as shared development and parts sharing relating to the company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced as a water-cooled boxer with front wheel drive, but plagued with problems such as water leakage and gearbox errors. Lloyd lost money on the car although it was more expensive as compared to its direct competitors.In 1961, the company was compelled into liquidation by credit card companies. Carl Borgward died inside July 1963, still insisting the company had been technically solvent. This proved to be true from the sense that after the creditors were paid in full, there was still four. 5 million Marks left over from the business.
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Studies of difficulties at Borgward surfaced within the article that appeared in Germany's leading news publication, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly important of Carl Borgward's company approach, and included many of the arguments later advanced to spellout or justify the business's demise. The widest range regarding cars from any manufacturer in Germany, produced by three until eventually recently operationally autonomous businesses (Borgward, Goliath and Lloyd) has been supporting a turnover associated with only 650 million Scars, placing the overall sales value through the combined Borgward auto organizations only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation connected with new and modified types featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") provided rise to components which many times 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 way back to the company.The December 1960 Spiegel article had not been the only serious general public criticism targeting Borgward right now: suddenly stridently negative (in the event that more succinct) comments also turned up in the influential mass-market Bild magazine and in television stories. Critical media commentaries in addition appeared concerning large loans towards Borgward Group provided with the local Landesbank.It is apparent which the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses for instance auto manufacturing use his or her expensive machines and tools most efficiently if they use them constantly from full capacity, but the car market in Europe within the 1950s/60s was more seasons than today, with sales diminishing within Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars at the end of 1960 was more than usual, reflecting ambitious growth ideas, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that on 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 being taken back following a slump in American demand. (Borgward was not the sole European auto maker hit by the North American slump popular for imported cars while in 1960. In the same 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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Towards the end of December 1960 Borgward approached the lending company for a further 1 million Marks of credit score, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators opted for provide. However, following the flood involving critical press comment this senators withdrew their guarantee. 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 a still hostile media, Borgward agreed to this senate’s terms on four February 1961, thereby averting the bankruptcy with the business.The Bremen Senate additionally insisted on appointing a unique nominee as chairman on the company’s supervisory board. The man they chose was Johannes Semler which reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice to the breadth of Semler’s occupation. He had studied rules at university and worked initially being a lawyer. The scion of a top Hamburg political family, in 1945 he experienced himself been a founding member of the centre-right CSU celebration, and was a person in the Bundestag between 1950 along with 1953. Despite his Hamburg beginnings, Semler was by on this occasion based in Munich, with a network of contacts in the Bavarian establishment that probably included fellow CSU politician and 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 because representative of the Bremen senators to be able to chair the Borgward supervisory table would, in retrospect, contribute to the debate that followed the Borgward personal bankruptcy.
About 28 July 1961 Semler, as Chairman of this 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 just a court sanctioned scheme of arrangement enabling this company to continue to trade while as well protecting the interests involving creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of her own, never had any goal of allowing the Borgward auto-businesses to survive.
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