Borgward is an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in the particular 1960s. The Borgward group produced four brands of autos: 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 investment, and unveiled the firm's first new car throughout over 40 years, the BX7 at the actual 2015 International Motor Display.The origins of Bremen's most significant auto-business go back to 1905 with the place in nearby Varel with the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself associated with "Namag", maker of the Lloyd car. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and because of the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand the particular scope of his car business, and he took control of computer.
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The initial "automobile" Carl Borgward designed was the 1924 Blitzkarren (turbo cart), a sort of very small three-wheeled van with 3 hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the nonetheless three wheeler timber presented synthetic leather bodied 5 or even 7 hp Goliath Leading. Borgward turned his awareness of the other businesses and also led the development from the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and also in 1939 the brand was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from companies he had acquired through the years to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business during a period of austerity and rationing. For many purposes the firms would be run as being a single entity, but in a business operated by the man to whom delegation did not come naturally the growth of legal entities nevertheless added unhelpful layers of complexity with the 1950s and encouraged a broadening from the range which ultimately proved financially unsustainable with the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of many top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most in-demand model and remained in production with the life of the organization. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a type of 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 the German market such seeing that air suspension and automated transmission, the company had trouble competing in the market. While larger companies such as Opel and VW took good thing about economies of scale along with kept their prices low to realize market share, Borgward's cost structure was even greater than necessary for its dimensions, as it basically controlled as four tiny independent companies and don't implemented such basic price tag reduction strategies as shared development and parts sharing between your company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced being a water-cooled boxer with the front wheel drive, but plagued with problems including water leakage and gearbox glitches. Lloyd lost money on the car though it was more expensive when compared with its direct competitors.In 1961, the company was pressured into liquidation by lenders. Carl Borgward died throughout July 1963, still insisting the company was technically solvent. This proved to be true from the sense that after the particular creditors were paid 100 %, there was still 4. 5 million Marks left over from the business.
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Accounts of difficulties at Borgward surfaced within an article that appeared throughout Germany's leading news magazine, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly crucial of Carl Borgward's organization approach, and included many with the arguments later advanced to spell out or justify the business's demise. The widest range associated with cars from any manufacturer in Germany, produced by three until finally recently operationally autonomous businesses (Borgward, Goliath and Lloyd) was supporting a turnover associated with only 650 million Marks, placing the overall sales value from your combined Borgward auto companies only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation connected with new and modified products featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") afforded rise to components which excessively did not work, broke down or chop down apart, resulting in massive charges for pre-delivery remediation and/or post delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article has not been the only serious open public criticism targeting Borgward right now: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild magazine and in television studies. Critical media commentaries likewise appeared concerning large loans on the Borgward Group provided through the local Landesbank.It is apparent that this business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses including auto manufacturing use their own expensive machines and tools most efficiently as long as they use them constantly at full capacity, but the car market in Europe from the 1950s/60s was more seasons than today, with sales diminishing throughout Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars right at the end of 1960 was above usual, reflecting ambitious growth plans, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered through the North American dealers in 1960 (and on the 12, 000 delivered to them) 6, 000 might have for being taken back following a slump in American demand. (Borgward was not the one European auto maker hit by way of North American slump popular for imported cars in the course of 1960. In the same year two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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At the conclusion of December 1960 Borgward approached the lender for a further one particular million Marks of credit history, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators consented to provide. However, following the flood connected with critical press comment the actual senators withdrew their guarantee. They now required Carl Borgward to pledge the business itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in the still hostile media, Borgward agreed to the actual senate’s terms on several February 1961, thereby averting the bankruptcy on the business.The Bremen Senate likewise insisted on appointing its own nominee as chairman with the company’s supervisory board. The man they select was Johannes Semler whom reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice to the breadth of Semler’s vocation. He had studied legislation at university and worked initially being a lawyer. The scion of a number one Hamburg political family, in 1945 he got himself been a founding person in the centre-right CSU bash, and was a member of the Bundestag between 1950 as well as 1953. Despite his Hamburg beginnings, Semler was by these times based in Munich, with a network of contacts inside 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 from the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators to chair the Borgward supervisory mother board would, in retrospect, contribute to the conflict that followed the Borgward a bankruptcy proceeding.
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In 28 July 1961 Semler, as Chairman of the supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings to the establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling the organization to continue to trade while while doing so protecting the interests associated with creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of her own, never had any objective of allowing the Borgward auto-businesses in order to survive.
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