Borgward is an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in the actual 1960s. The Borgward group created four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the firm's first new car in over 40 years, the BX7 at your 2015 International Motor Display.The origins of Bremen's most significant auto-business resume 1905 with the institution in nearby Varel from the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself of "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and through the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the scope of his automobile business, and he took control of it.
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The first "automobile" Carl Borgward made was the 1924 Blitzkarren (super cart), a sort of small three-wheeled van with 2 hp (1. 5 kW), which was an enormous success on the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 or even 7 hp Goliath Founder. Borgward turned his care about the other businesses and also led the development in 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 as well as the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from organizations he had acquired over the years to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business at any given time of austerity and rationing. For many purposes the lenders would be run like 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 however added unhelpful layers of complexity over the 1950s and encouraged a broadening in the range which ultimately proved financially unsustainable with all the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of many top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most popular model and remained in production for your life of the company. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (which was also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such because air suspension and automatic transmission, the company had trouble competing available. While larger companies like Opel and VW took selling point of economies of scale and also kept their prices low to gain market share, Borgward's cost structure was even more than necessary for its sizing, as it basically run as four tiny independent companies and never implemented such basic cost reduction strategies as combined development and parts sharing relating to the company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced as being a water-cooled boxer with front wheel drive, but plagued with problems for example water leakage and gearbox errors. Lloyd lost money on the car though it was more expensive than its direct competitors.In 1961, the company was required into liquidation by loan companies. Carl Borgward died with July 1963, still insisting the company had been technically solvent. This proved to be true from the sense that after this creditors were paid completely, there was still several. 5 million Marks remaining from the business.
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Accounts of difficulties at Borgward surfaced in a article that appeared throughout Germany's leading news journal, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places repeating 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 small business approach, and included many on the arguments later advanced to spell out or justify the firm's demise. The widest range of cars from any producer in Germany, produced by three until eventually recently operationally autonomous businesses (Borgward, Goliath and Lloyd) was supporting a turnover of only 650 million Signifies, placing the overall sales value through the combined Borgward auto businesses only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation involving new and modified designs featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") offered rise to components which many times 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 made use of to the company.The December 1960 Spiegel article had not been the only serious open public criticism targeting Borgward right now: suddenly stridently negative (in the event more succinct) comments also resulted in in the influential mass-market Bild paper and in television reports. Critical media commentaries in addition appeared concerning large loans for the Borgward Group provided by the local Landesbank.It is apparent how the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses for example auto manufacturing use their expensive machines and tools most efficiently whenever they use them constantly on full capacity, but the car market in Europe inside 1950s/60s was more temporary than today, with sales diminishing inside Winter, then peaking in early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was higher than usual, reflecting ambitious growth plans, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered by the North American dealers throughout 1960 (and of the 12, 000 delivered to these individuals) 6, 000 might have to get taken back following a slump in North american demand. (Borgward was not really the only European auto maker hit by the North American slump sought after for imported cars during 1960. In the same year two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached the lender for a further 1 million Marks of credit rating, the loan to be backed with a guarantee from the Bremen regional government which initially the Bremen senators opted for provide. However, following the flood associated with critical press comment the senators withdrew their assurance. They now required Carl Borgward to pledge this company itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in a still hostile media, Borgward agreed to your senate’s terms on 4 February 1961, thereby averting the bankruptcy on the business.The Bremen Senate likewise insisted on appointing a nominee as chairman from the company’s supervisory board. The man they decided was Johannes Semler with whom reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice towards breadth of Semler’s occupation. He had studied rules at university and worked initially like a lawyer. The scion of a top Hamburg political family, in 1945 he acquired himself been a founding member of the centre-right CSU bash, and was a person in the Bundestag between 1950 along with 1953. Despite his Hamburg sources, Semler was by these times based in Munich, with a network of contacts within the Bavarian establishment that likely included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position inside Bizone. The appointment of Johannes Semler since the representative of the Bremen senators to help chair the Borgward supervisory panel would, in retrospect, contribute to the controversy that followed the Borgward individual bankruptcy.
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Upon 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 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 of creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of their own, never had any objective of allowing the Borgward auto-businesses for you to survive.
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