Borgward is an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in the actual 1960s. The Borgward group generated four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's son, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the business's first new car within over 40 years, the BX7 at the actual 2015 International Motor Present.The origins of Bremen's most significant auto-business resume 1905 with the organization in nearby Varel with the "Hansa Automobilgesellschaft" and the foundation in Bremen itself involving "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 economy then confronting Germany, the business failed to prosper and because of the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand your scope of his automobile business, and he took control from it.
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The initial "automobile" Carl Borgward designed was the 1924 Blitzkarren (super cart), a sort of very small three-wheeled van with only two hp (1. 5 kW), which was an enormous success available 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 home of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the still three wheeler timber framed synthetic leather bodied 5 or 7 hp Goliath Pioneer. Borgward turned his awareness of the other businesses as well as led the development in the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 and also in 1939 the name was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from businesses he had acquired over time to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business at a time of austerity and rationing. For many purposes the firms would be run as being a single entity, but in a business operated by way of a man to whom delegation would not come naturally the growth of legal entities nonetheless added unhelpful layers of complexity from the 1950s and encouraged a broadening from the range which finally proved financially unsustainable with the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.Among the top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella commenced in 1954. The Isabella would become Borgward's most in-demand model and remained in production for that life of the company. In 1960 the Borgward P100 seemed to be 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 to become successful Formula Two power unit (that was also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such since air suspension and computerized transmission, the company had trouble competing out there. While larger companies such as Opel and VW took selling point of economies of scale as well as kept their prices low to get market share, Borgward's cost structure was even higher than necessary for its measurement, as it basically controlled as four tiny independent companies and do not implemented such basic price tag reduction strategies as articulation development and parts sharing relating to the company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced as being a water-cooled boxer with entry wheel drive, but plagued with problems such as water leakage and gearbox glitches. Lloyd lost money on the car just about the most was more expensive as compared to its direct competitors.In 1961, the company was pushed into liquidation by credit card companies. Carl Borgward died throughout July 1963, still insisting the company had been technically solvent. This proved to be true from the sense that after the particular 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 an article that appeared inside Germany's leading news magazine, “Der Spiegel” on 18 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 entrance cover. It was strongly crucial of Carl Borgward's organization approach, and included many with the arguments later advanced to spellout or justify the business's demise. The widest range regarding cars from any company in Germany, produced by three until recently operationally autonomous firms (Borgward, Goliath and Lloyd) ended up being supporting a turnover associated with only 650 million Marks, placing the overall sales value through the 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") offered rise to components which too often did not work, broke down or dropped apart, resulting in massive bills for pre-delivery remediation and/or article delivery warranty work that found their long ago to the company.The December 1960 Spiegel article hasn't been the only serious open public criticism targeting Borgward at this time: suddenly stridently negative (in case more succinct) comments also turned up in the influential mass-market Bild newspaper and in television reports. Critical media commentaries likewise appeared concerning large loans to the Borgward Group provided from the local Landesbank.It is apparent that this business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses for instance auto manufacturing use their own expensive machines and tools most efficiently should they use them constantly at full capacity, but the car market in Europe from the 1950s/60s was more in season than today, with sales diminishing within Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was above usual, reflecting ambitious growth strategies, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered by the North American dealers throughout 1960 (and of the 12, 000 delivered to them) 6, 000 might have for being taken back following a slump in Us demand. (Borgward was not really the only European auto maker hit with a North American slump widely used for imported cars in the course of 1960. In the same 12 months two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached the financial institution for a further one particular million Marks of credit score, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators decided to provide. However, following the flood involving critical press comment this senators withdrew their promise. 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 the still hostile media, Borgward agreed to this senate’s terms on several February 1961, thereby averting the bankruptcy on the business.The Bremen Senate likewise insisted on appointing a nominee as chairman of 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 straight into English, does less than full justice towards breadth of Semler’s occupation. He had studied law at university and worked initially as a lawyer. The scion of a top Hamburg political family, in 1945 he had himself been a founding member of the centre-right CSU gathering, and was a person in the Bundestag between 1950 along with 1953. Despite his Hamburg sources, Semler was by now based in Munich, with a network of contacts within the Bavarian establishment that possibly included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position inside Bizone. The appointment of Johannes Semler as the representative of the Bremen senators to help chair the Borgward supervisory table would, in retrospect, contribute to the controversy that followed the Borgward a bankruptcy proceeding.
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About 28 July 1961 Semler, as Chairman of your supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings with the 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 of creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of their own, never had any goal of allowing the Borgward auto-businesses for you to survive.
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