Borgward can be an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in your 1960s. The Borgward group created four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grandson, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the corporation's first new car within over 40 years, the BX7 at your 2015 International Motor Present.The origins of Bremen's most significant auto-business go back to 1905 with the organization in nearby Varel in the "Hansa Automobilgesellschaft" and the foundation in Bremen itself involving "Namag", maker of the Lloyd vehicle. 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 with the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the scope of his vehicle business, and he took control of computer.
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The primary "automobile" Carl Borgward created was the 1924 Blitzkarren (super cart), a sort of very small three-wheeled van with 3 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 representative of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the even now three wheeler timber presented synthetic leather bodied 5 or maybe 7 hp Goliath Leading. 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 and 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 many of the brand names from firms 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 nokia's would be run as being a single entity, but in a business operated by way of a man to whom delegation failed to come naturally the spreading of legal entities however added unhelpful layers of complexity from the 1950s and encouraged a broadening from the range which finally proved financially unsustainable while using the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of the top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most in-demand model and remained in production for that life of the company. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (which was also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such because air suspension and automated transmission, the company had trouble competing out there. While larger companies similar to Opel and VW took benefit from economies of scale and kept their prices low to get market share, Borgward's cost structure was even more than necessary for its dimensions, as it basically handled as four tiny independent companies and do not implemented such basic expense reduction strategies as combined development and parts sharing between your company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced being a water-cooled boxer with top wheel drive, but plagued with problems for example water leakage and gearbox secrets. Lloyd lost money on the car even though it was more expensive compared to its direct competitors.In 1961, the company was pushed into liquidation by collectors. Carl Borgward died with July 1963, still insisting the company ended up technically solvent. This proved to be true inside the sense that after the actual creditors were paid fully, there was still several. 5 million Marks left from the business.
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Stories of difficulties at Borgward surfaced in the article that appeared throughout Germany's leading news publication, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly critical of Carl Borgward's business approach, and included many in the arguments later advanced to spellout or justify the business's demise. The widest range of cars from any maker in Germany, produced by three right up until recently operationally autonomous businesses (Borgward, Goliath and Lloyd) seemed to be supporting a turnover involving only 650 million Marks, placing the overall sales value from your combined Borgward auto organizations only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation associated with new and modified models featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") afforded rise to components which excessively did not work, broke down or fell apart, resulting in massive payments for pre-delivery remediation and/or submit delivery warranty work that found their long ago to the company.The December 1960 Spiegel article wasn't the only serious public criticism targeting Borgward at the moment: suddenly stridently negative (when more succinct) comments also turned up in the influential mass-market Bild newspapers and in television accounts. Critical media commentaries in addition appeared concerning large loans towards the Borgward Group provided with the local Landesbank.It is apparent that this business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses for instance auto manufacturing use their expensive machines and tools most efficiently whenever they use them constantly at full capacity, but the car market in Europe from the 1950s/60s was more periodic than today, with sales diminishing inside Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was beyond usual, reflecting ambitious growth plans, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered from the North American dealers in 1960 (and of the 12, 000 delivered to these individuals) 6, 000 might have to become taken back following a slump in North american demand. (Borgward was not the only European auto maker hit by a North American slump widely used for imported cars while in 1960. In the same 12 months 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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By the end of December 1960 Borgward approached the financial institution for a further a single million Marks of credit score, the loan to be backed by a guarantee from the Bremen regional government which initially the Bremen senators decided provide. However, following the flood connected with critical press comment the particular 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 the senate’s terms on 4 February 1961, thereby averting the bankruptcy from the business.The Bremen Senate likewise insisted on appointing a unique nominee as chairman in the company’s supervisory board. The man they chose was Johannes Semler whom reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice for the breadth of Semler’s job. He had studied legislation at university and worked initially like 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 member of the Bundestag between 1950 in addition to 1953. Despite his Hamburg origins, Semler was by on this occasion based in Munich, with a network of contacts from the Bavarian establishment that possibly included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position inside Bizone. The appointment of Johannes Semler because the representative of the Bremen senators for you to chair the Borgward supervisory panel would, in retrospect, contribute to the debate that followed the Borgward individual bankruptcy.
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About 28 July 1961 Semler, as Chairman of your supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the business to continue to trade while at the same time protecting the interests associated with creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his very own, never had any objective of allowing the Borgward auto-businesses for you to survive.
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