Borgward can be an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in the 1960s. The Borgward group developed four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grandson, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the firm's first new car within over 40 years, the BX7 at this 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business get back on 1905 with the establishment in nearby Varel of the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself of "Namag", maker of the Lloyd car. These two businesses merged in 1914 in order 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 a bankruptcy proceeding. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand the actual scope of his automotive business, and he took control from it.
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The primary "automobile" Carl Borgward designed was the 1924 Blitzkarren (lightning cart), a sort of very small three-wheeled van with 3 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 some of them for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the nonetheless three wheeler timber presented synthetic leather bodied 5 or even 7 hp Goliath Leader. Borgward turned his focus on the other businesses and led the development of the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 as well as in 1939 the name was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from businesses he had acquired in the past to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business at the same 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 man to whom delegation failed to come naturally the growth of legal entities however added unhelpful layers of complexity over the 1950s and encouraged a broadening from the range which eventually proved financially unsustainable while using sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of the top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most favored model and remained in production for the life of the corporation. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (that is also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such as air suspension and intelligent transmission, the company had trouble competing in the market. While larger companies like Opel and VW took benefit of economies of scale along with kept their prices low to get market share, Borgward's cost structure was even above necessary for its size, as it basically operated as four tiny independent companies rather than implemented such basic expense reduction strategies as combined development and parts sharing between the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced as being a water-cooled boxer with top wheel drive, but plagued with problems such as water leakage and gearbox mistakes. Lloyd lost money on the car though it was more expensive as compared to its direct competitors.In 1961, the company was pressured into liquidation by collectors. Carl Borgward died in July 1963, still insisting the company have been technically solvent. This proved to be true within the sense that after the particular creditors were paid fully, there was still four. 5 million Marks left over from the business.
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Reports of difficulties at Borgward surfaced in a article that appeared throughout Germany's leading news mag, “Der Spiegel” on age 14 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 top cover. It was strongly critical of Carl Borgward's business approach, and included many with the arguments later advanced to explain or justify the company's demise. The widest range of cars from any supplier in Germany, produced by three until recently operationally autonomous businesses (Borgward, Goliath and Lloyd) was supporting a turnover regarding only 650 million Represents, placing the overall sales value on the combined Borgward auto organizations 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 regarding new and modified types featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") presented rise to components which many times did not work, broke down or dropped apart, resulting in massive costs for pre-delivery remediation and/or submit delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article hasn't been the only serious open criticism targeting Borgward currently: suddenly stridently negative (in case more succinct) comments also turned up in the influential mass-market Bild newspapers and in television accounts. Critical media commentaries likewise appeared concerning large loans on the Borgward Group provided with the local Landesbank.It is apparent that this business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses such as auto manufacturing use the expensive machines and tools most efficiently when they use them constantly in 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 towards the end of 1960 was above 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 through the North American dealers inside 1960 (and with the 12, 000 delivered to these people) 6, 000 might have being taken back following a slump in North american demand. (Borgward was not the one European auto maker hit with a North American slump widely used for imported cars while in 1960. In the same calendar year two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached your banker for a further 1 million Marks of credit history, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators agreed to provide. However, following the flood regarding critical press comment this 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 a still hostile media, Borgward agreed to this senate’s terms on some February 1961, thereby averting the bankruptcy on the business.The Bremen Senate also insisted on appointing a nominee as chairman with the company’s supervisory board. The man they select was Johannes Semler who reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice towards breadth of Semler’s job. He had studied law at university and worked initially being a lawyer. The scion of a respected Hamburg political family, in 1945 he acquired himself been a founding person in the centre-right CSU celebration, and was a member of 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 within the Bavarian establishment that probably included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position in the Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators to be able to chair the Borgward supervisory aboard would, in retrospect, contribute to the conflict that followed the Borgward chapter 7.
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With 28 July 1961 Semler, as Chairman of your supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided to get a court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while at the same time protecting the interests associated with creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his or her own, never had any purpose of allowing the Borgward auto-businesses to help survive.
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