Borgward can be an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in the particular 1960s. The Borgward group produced four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grand son, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the businesses first new car with over 40 years, the BX7 at your 2015 International Motor Indicate.The origins of Bremen's most significant auto-business return to 1905 with the establishment in nearby Varel from the "Hansa Automobilgesellschaft" and the muse in Bremen itself connected with "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 from the late 1920s faced chapter 7. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand the scope of his automobile business, and he took control from it.
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The initial "automobile" Carl Borgward created was the 1924 Blitzkarren (lightning cart), a sort of very small three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success already in the market gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the even now three wheeler timber framed synthetic leather bodied 5 or maybe 7 hp Goliath Master. Borgward turned his attention to the other businesses along with led the development from the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 and in 1939 the identify was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from companies he had acquired through the years to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business at any given time of austerity and rationing. For many purposes the companies would be run being a single entity, but in a business operated by way of a man to whom delegation didn't come naturally the proliferation of legal entities on the other hand added unhelpful layers of complexity with the 1950s and encouraged a broadening with the range which in the end proved financially unsustainable using the sales volumes achievable. In 1949 company offered 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 in 1954. The Isabella would become Borgward's hottest model and remained in production for that life of the corporation. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that has been also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such since air suspension and automated transmission, the company had trouble competing in the market. While larger companies like Opel and VW took good thing about economies of scale and also kept their prices low to achieve market share, Borgward's cost structure was even more than necessary for its size, as it basically run as four tiny independent companies and never implemented such basic price tag reduction strategies as mutual development and parts sharing involving the company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced being a water-cooled boxer with top wheel drive, but plagued with problems for instance water leakage and gearbox mistakes. Lloyd lost money on the car even though it was more expensive 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 this creditors were paid entirely, there was still four. 5 million Marks left from the business.
Reviews of difficulties at Borgward surfaced in an article that appeared in Germany's leading news magazine, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly vital of Carl Borgward's organization approach, and included many from the arguments later advanced to go into detail or justify the company's demise. The widest range associated with cars from any producer in Germany, produced by three until finally recently operationally autonomous corporations (Borgward, Goliath and Lloyd) ended up being supporting a turnover involving only 650 million Signifies, placing the overall sales value from your combined Borgward auto businesses only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation of new and modified versions featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") provided rise to components which too often did not work, broke down or chop down apart, resulting in massive payments for pre-delivery remediation and/or article delivery warranty work that found their made use of to the company.The December 1960 Spiegel article had not been the only serious community criticism targeting Borgward right now: suddenly stridently negative (in case more succinct) comments also resulted in in the influential mass-market Bild magazine and in television reports. Critical media commentaries furthermore appeared concerning large loans for the Borgward Group provided through the local Landesbank.It is apparent that the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses for example auto manufacturing use the expensive machines and tools most efficiently should they use them constantly with full capacity, but the car market in Europe inside the 1950s/60s was more seasons than today, with sales diminishing with Winter, then peaking in early summer months: Borgward’s inventory of unsold cars at the end of 1960 was greater than usual, reflecting ambitious growth ideas, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered by the North American dealers inside 1960 (and from the 12, 000 delivered to these individuals) 6, 000 might have to become taken back following a slump in American demand. (Borgward was not the one European auto maker hit with a North American slump popular for imported cars while in 1960. In the same season two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached the lending company for a further 1 million Marks of credit ratings, the loan to be backed by a guarantee from the Bremen regional government which initially the Bremen senators agreed to provide. However, following the flood involving critical press comment this 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 within a still hostile media, Borgward agreed to the particular senate’s terms on 4 February 1961, thereby averting the bankruptcy on the business.The Bremen Senate also insisted on appointing a unique nominee as chairman from the company’s supervisory board. The man they selected was Johannes Semler with whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice towards the breadth of Semler’s career. He had studied legislation at university and worked initially to be a lawyer. The scion of a leading Hamburg political family, in 1945 he had himself been a founding person in the centre-right CSU gathering, and was a person in the Bundestag between 1950 in addition to 1953. Despite his Hamburg origins, Semler was by this time based in Munich, with a network of contacts within the Bavarian establishment that almost certainly included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position from the Bizone. The appointment of Johannes Semler because representative of the Bremen senators to help chair the Borgward supervisory board would, in retrospect, contribute to the dispute that followed the Borgward a bankruptcy proceeding.
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About 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings to the establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the company to continue to trade while while doing so protecting the interests of creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of their own, never had any intent of allowing the Borgward auto-businesses to be able to survive.
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