Borgward is an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in your 1960s. The Borgward group made four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the company's first new car within over 40 years, the BX7 at the particular 2015 International Motor Display.The origins of Bremen's most significant auto-business get back to 1905 with the establishment in nearby Varel in the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself regarding "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 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 an opportunity greatly to expand the scope of his car business, and he took control of it.
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The first "automobile" Carl Borgward developed was the 1924 Blitzkarren (lightning cart), a sort of small three-wheeled van with only two hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget purchased for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the nonetheless three wheeler timber presented synthetic leather bodied 5 or maybe 7 hp Goliath Founder. Borgward turned his care about the other businesses along with led the development on the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 and also in 1939 the identify was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from corporations he had acquired in recent times to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business at any given time of austerity and rationing. For many purposes nokia's would be run to be a single entity, but in a business operated with a man to whom delegation did not come naturally the expansion of legal entities even so added unhelpful layers of complexity throughout the 1950s and encouraged a broadening with the range which in the end proved financially unsustainable using the sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.One of several 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 favored model and remained in production for that life of the business. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (that was also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such seeing that air suspension and computerized transmission, the company had trouble competing out there. While larger companies similar to Opel and VW took advantage of economies of scale and also kept their prices low to find market share, Borgward's cost structure was even above necessary for its measurement, as it basically run as four tiny independent companies rather than implemented such basic charge reduction strategies as combined development and parts sharing involving the 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 glitches. Lloyd lost money on the car community . was more expensive in comparison with its direct competitors.In 1961, the company was required into liquidation by lenders. Carl Borgward died within July 1963, still insisting the company ended up technically solvent. This proved to be true within the sense that after the actual creditors were paid 100 %, there was still some. 5 million Marks remaining from the business.
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Studies of difficulties at Borgward surfaced in the article that appeared in Germany's leading news newspaper, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly critical of Carl Borgward's small business approach, and included many of the arguments later advanced to spellout or justify the businesses demise. The widest range regarding cars from any supplier in Germany, produced by three until eventually recently operationally autonomous corporations (Borgward, Goliath and Lloyd) has been supporting a turnover associated with only 650 million Represents, placing the overall sales value on the combined Borgward auto corporations only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation associated with new and modified models featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") gave rise to components which too much did not work, broke down or dropped apart, resulting in massive payments for pre-delivery remediation and/or article delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article wasn't the only serious open public criticism targeting Borgward at the moment: suddenly stridently negative (when more succinct) comments also turned up in the influential mass-market Bild classifieds and in television accounts. Critical media commentaries furthermore appeared concerning large loans towards Borgward Group provided through the local Landesbank.It is apparent the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses such as auto manufacturing use their expensive machines and tools most efficiently when they use them constantly in full capacity, but the car market in Europe in the 1950s/60s was more in season than today, with sales diminishing inside Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars by the end of 1960 was beyond usual, reflecting ambitious growth options, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered from the North American dealers with 1960 (and in the 12, 000 delivered to these people) 6, 000 might have being 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 through 1960. In the same calendar year two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the bank for a further 1 million Marks of credit ratings, the loan to be backed with a guarantee from the Bremen regional government which initially the Bremen senators consented to provide. However, following the flood connected with critical press comment the actual senators withdrew their assure. They now required Carl Borgward to pledge the corporation itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in a very still hostile media, Borgward agreed to the particular senate’s terms on 4 February 1961, thereby averting the bankruptcy of the business.The Bremen Senate also insisted on appointing its own nominee as chairman of the company’s supervisory board. The man they selected was Johannes Semler to 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 occupation. He had studied regulation at university and worked initially to be a lawyer. The scion of a number one Hamburg political family, in 1945 he had himself been a founding person in the centre-right CSU get together, and was a member of the Bundestag between 1950 along with 1953. Despite his Hamburg origins, Semler was by now based in Munich, with a network of contacts within the Bavarian establishment that almost certainly included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position inside Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators to be able to chair the Borgward supervisory mother board would, in retrospect, contribute to the controversy that followed the Borgward bankruptcy.
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On 28 July 1961 Semler, as Chairman of the supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the business to continue to trade while as well protecting the interests associated with creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November from 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 survive.
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