Borgward is usually an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in this 1960s. The Borgward group produced four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grand son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from China investment, and unveiled the business's first new car in over 40 years, the BX7 at the particular 2015 International Motor Show.The origins of Bremen's most significant auto-business go back to 1905 with the establishment in nearby Varel of the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself associated with "Namag", maker of the Lloyd auto. 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 through the late 1920s faced chapter 7. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the scope of his automobile business, and he took control from it.
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The 1st "automobile" Carl Borgward created was the 1924 Blitzkarren (turbo cart), a sort of teeny 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 most of them for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the nevertheless three wheeler timber presented synthetic leather bodied 5 or perhaps 7 hp Goliath Pioneer. Borgward turned his care about the other businesses in addition to led the development from the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 and also in 1939 the name was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from corporations he had acquired over the years to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business each time of austerity and rationing. For many purposes the businesses 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 growth of legal entities on the other hand added unhelpful layers of complexity with the 1950s and encouraged a broadening in the range which in the long run proved financially unsustainable while using sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.Among the top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most widely used model and remained in production to the life of the company. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a distinctive 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 has been also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such as air suspension and programmed transmission, the company had trouble competing out there. 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 beyond necessary for its measurement, as it basically managed as four tiny independent companies and not implemented such basic price tag reduction strategies as shared development and parts sharing between company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced being a water-cooled boxer with entrance wheel drive, but plagued with problems for example water leakage and gearbox errors. Lloyd lost money on the car although it was more expensive compared to its direct competitors.In 1961, the company was pressured into liquidation by creditors. Carl Borgward died throughout July 1963, still insisting the company was technically solvent. This proved to be true inside the sense that after the actual creditors were paid completely, there was still 4. 5 million Marks remaining from the business.
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Studies of difficulties at Borgward surfaced in an article that appeared with Germany's leading news publication, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly essential of Carl Borgward's organization approach, and included many of the arguments later advanced to spell out or justify the businesses demise. The widest range associated with cars from any producer in Germany, produced by three until recently operationally autonomous companies (Borgward, Goliath and Lloyd) had been supporting a turnover associated with only 650 million Marks, placing the overall sales value from the combined Borgward auto businesses only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation involving new and modified products featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") offered rise to components which too much did not work, broke down or dropped apart, resulting in massive charges for pre-delivery remediation and/or write-up delivery warranty work that found their in the past to the company.The December 1960 Spiegel article was not the only serious open criticism targeting Borgward currently: suddenly stridently negative (in the event more succinct) comments also resulted in in the influential mass-market Bild magazine and in television reports. Critical media commentaries likewise appeared concerning large loans to the Borgward Group provided from the local Landesbank.It is apparent which the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses including auto manufacturing use his or her expensive machines and tools most efficiently whenever they use them constantly at 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 earlier summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was more than 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 from the North American dealers inside 1960 (and of the 12, 000 delivered to these people) 6, 000 might have to become taken back following a slump in United states demand. (Borgward was not really the only European auto maker hit by way of a North American slump popular for imported cars through 1960. In the same calendar year two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached the bank for a further a single million Marks of credit, the loan to be backed by way of a guarantee from the Bremen regional government which initially the Bremen senators consented to provide. However, following the flood regarding critical press comment the particular senators withdrew their guarantee. They now required Carl Borgward to pledge the business itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported within a still hostile media, Borgward agreed to the senate’s terms on several February 1961, thereby averting the bankruptcy of the business.The Bremen Senate in addition insisted on appointing its own nominee as chairman with the company’s supervisory board. The man they chose was Johannes Semler with whom reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice to the breadth of Semler’s profession. He had studied rules at university and worked initially being a lawyer. The scion of a number one Hamburg political family, in 1945 he acquired himself been a founding member of the centre-right CSU celebration, and was a member of the Bundestag between 1950 along with 1953. Despite his Hamburg beginnings, Semler was by on this occasion based in Munich, with a network of contacts within the Bavarian establishment that probably included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position in the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators to be able to chair the Borgward supervisory mother board would, in retrospect, contribute to the dispute that followed the Borgward chapter 7.
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In 28 July 1961 Semler, as Chairman of this 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 just a court sanctioned scheme of arrangement enabling the business to continue to trade while while doing so protecting the interests of creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of their own, never had any intention of allowing the Borgward auto-businesses in order to survive.
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