Borgward is usually an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in the 1960s. The Borgward group developed four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grand son, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the businesses 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 get back on 1905 with the place in nearby Varel with the "Hansa Automobilgesellschaft" and the walls in Bremen itself regarding "Namag", maker of the Lloyd car. 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 individual bankruptcy. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand the actual scope of his automobile business, and he took control from it.
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The 1st "automobile" Carl Borgward designed was the 1924 Blitzkarren (lightning cart), a sort of tiny three-wheeled van with only two hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the still three wheeler timber framed synthetic leather bodied 5 or maybe 7 hp Goliath Master. Borgward turned his focus on the other businesses along with led the development with the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 in addition to in 1939 the brand was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from companies he had acquired in the past to found three independent 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 lenders would be run as being a single entity, but in a business operated with a man to whom delegation wouldn't come naturally the growth of legal entities even so added unhelpful layers of complexity throughout the 1950s and encouraged a broadening of the range which ultimately proved financially unsustainable with all the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.One of several top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's hottest model and remained in production with the life of the business. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (that has been also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such while air suspension and intelligent transmission, the company had trouble competing in the marketplace. While larger companies similar to Opel and VW took advantage of economies of scale and kept their prices low to find market share, Borgward's cost structure was even greater than necessary for its dimensions, as it basically managed as four tiny independent companies and don't implemented such basic charge reduction strategies as shared development and parts sharing relating to the company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced to be 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 though it was more expensive as compared to its direct competitors.In 1961, the company was required into liquidation by lenders. Carl Borgward died with July 1963, still insisting the company was technically solvent. This proved to be true inside sense that after your creditors were paid in full, there was still four. 5 million Marks left from the business.
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Studies of difficulties at Borgward surfaced in the article that appeared in Germany's leading news journal, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly important of Carl Borgward's small business approach, and included many on the arguments later advanced to spell out or justify the firm's demise. The widest range involving cars from any manufacturer in Germany, produced by three right up until recently operationally autonomous companies (Borgward, Goliath and Lloyd) was supporting a turnover of only 650 million Scars, placing the overall sales value from your combined Borgward auto organizations only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation of new and modified products featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") provided rise to components which too often did not work, broke down or fell into apart, resulting in massive bills for pre-delivery remediation and/or article delivery warranty work that found their in the past to the company.The December 1960 Spiegel article was not the only serious general public criticism targeting Borgward currently: suddenly stridently negative (in case more succinct) comments also turned up in the influential mass-market Bild classifieds and in television accounts. Critical media commentaries also appeared concerning large loans towards the Borgward Group provided because of the local Landesbank.It is apparent that the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses such as auto manufacturing use their own expensive machines and tools most efficiently when they use them constantly on full capacity, but the car market in Europe inside the 1950s/60s was more periodic than today, with sales diminishing within Winter, then peaking in early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was more than usual, reflecting ambitious growth programs, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered through the North American dealers with 1960 (and on the 12, 000 delivered to these) 6, 000 might have being taken back following a slump in United states demand. (Borgward was not really the only European auto maker hit by a North American slump in demand for imported cars during 1960. In the same year two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Big apple were overcrowded with unsold Dauphines.
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At the conclusion of December 1960 Borgward approached your banker for a further just one million Marks of credit, the loan to be backed with a guarantee from the Bremen regional government which initially the Bremen senators agreed to provide. However, following the flood regarding critical press comment the particular senators withdrew their assurance. 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 inside a still hostile media, Borgward agreed to the actual senate’s terms on 4 February 1961, thereby averting the bankruptcy of the business.The Bremen Senate in addition insisted on appointing a unique nominee as chairman on the company’s supervisory board. The man they selected was Johannes Semler whom reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice to the breadth of Semler’s job. He had studied legislation at university and worked initially as being a lawyer. The scion of a respected Hamburg political family, in 1945 he had himself been a founding member of 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 this time based in Munich, with a network of contacts inside the Bavarian establishment that possibly included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position in the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators to help chair the Borgward supervisory mother board would, in retrospect, contribute to the hot debate that followed the Borgward individual bankruptcy.
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In 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors in 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 enterprise to continue to trade while simultaneously protecting the interests associated with creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his or her own, never had any objective of allowing the Borgward auto-businesses to be able to survive.
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