Borgward is an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in this 1960s. The Borgward group developed four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has considering 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 corporation's first new car inside over 40 years, the BX7 at the particular 2015 International Motor Indicate.The origins of Bremen's most significant auto-business resume 1905 with the business in nearby Varel in the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself regarding "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economy then confronting Germany, the business failed to prosper and from the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the actual scope of his vehicle business, and he took control of computer.
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The very first "automobile" Carl Borgward intended 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 ordered for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the however three wheeler timber framed synthetic leather bodied 5 or 7 hp Goliath Founder. Borgward turned his attention to the other businesses along with led the development with the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 and in 1939 the identify was shortened to Borgward 2000. The 2000 model was as well as 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 the past to found three separate 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 businesses would be run as a single entity, but in a business operated by way of man to whom delegation wouldn't 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 while using the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of several top engineers at Borgward coming from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out 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 type of 1500 cc sports racers in the late 1950s, with the 16-valve engine from these learning to be a successful Formula Two power unit (that was also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such as air suspension and computerized transmission, the company had trouble competing in the market. While larger companies just like Opel and VW took benefit of economies of scale as well as kept their prices low to get market share, Borgward's cost structure was even more than necessary for its measurement, as it basically run as four tiny independent companies rather than implemented such basic price tag reduction strategies as combined development and parts sharing between the company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced as a water-cooled boxer with top wheel drive, but plagued with problems such as water leakage and gearbox glitches. Lloyd lost money on the car community . was more expensive compared to its direct competitors.In 1961, the company was required into liquidation by loan companies. Carl Borgward died throughout July 1963, still insisting the company was technically solvent. This proved to be true within the sense that after the actual creditors were paid completely, there was still some. 5 million Marks remaining from the business.
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Reports of difficulties at Borgward surfaced in the article that appeared within Germany's leading news mag, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places recurring 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 business approach, and included many with the arguments later advanced to go into detail or justify the company's demise. The widest range associated with cars from any maker in Germany, produced by three till recently operationally autonomous organizations (Borgward, Goliath and Lloyd) has been supporting a turnover regarding only 650 million Scars, placing the overall sales value on the combined Borgward auto businesses only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation associated with new and modified products featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") afforded rise to components which all too often did not work, broke down or droped apart, resulting in massive costs for pre-delivery remediation and/or publish delivery warranty work that found their in the past to the company.The December 1960 Spiegel article wasn't the only serious community criticism targeting Borgward at this time: suddenly stridently negative (in case more succinct) comments also resulted in in the influential mass-market Bild newspapers and in television reviews. Critical media commentaries likewise appeared concerning large loans for the Borgward Group provided through the local Landesbank.It is apparent which the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses for instance auto manufacturing use their particular expensive machines and tools most efficiently if they use them constantly in full capacity, but the car market in Europe inside the 1950s/60s was more seasonal than today, with sales diminishing inside Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars right 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 of the 15, 000 Borgward cars ordered through the North American dealers inside 1960 (and from the 12, 000 delivered to these) 6, 000 might have being taken back following a slump in United states demand. (Borgward was not the one European auto maker hit by a North American slump popular for imported cars through 1960. In the same season two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached the financial institution for a further a single million Marks of credit rating, the loan to be backed by a guarantee from the Bremen regional government which initially the Bremen senators decided to provide. However, following the flood connected with critical press comment the senators withdrew their guarantee. 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 within a still hostile media, Borgward agreed to the particular senate’s terms on several February 1961, thereby averting the bankruptcy of the business.The Bremen Senate also insisted on appointing its nominee as chairman in the company’s supervisory board. The man they decided to go with was Johannes Semler to whom reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice on the breadth of Semler’s occupation. He had studied rules 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 member of the centre-right CSU party, and was a member of the Bundestag between 1950 in addition to 1953. Despite his Hamburg beginnings, Semler was by these times based in Munich, with a network of contacts from the Bavarian establishment that most likely included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position inside the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators to be able to chair the Borgward supervisory board would, in retrospect, contribute to the controversy that followed the Borgward individual bankruptcy.
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With 28 July 1961 Semler, as Chairman of your supervisory board joined the directors from the three companies Borgward, Goliath and Lloyd to instigate proceedings for your 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 involving creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of her own, never had any purpose of allowing the Borgward auto-businesses to help survive.
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