Borgward is an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in your 1960s. The Borgward group made four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's grandson, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the corporation's first new car in over 40 years, the BX7 at the actual 2015 International Motor Display.The origins of Bremen's most significant auto-business get back on 1905 with the place in nearby Varel on the "Hansa Automobilgesellschaft" and the muse in Bremen itself involving "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economic situation then confronting Germany, the business failed to prosper and through the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand this scope of his automotive business, and he took control of it.
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The first "automobile" Carl Borgward designed was the 1924 Blitzkarren (lightning cart), a sort of little three-wheeled van with two hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the nevertheless three wheeler timber presented synthetic leather bodied 5 as well as 7 hp Goliath Master. Borgward turned his awareness of the other businesses in addition to led the development in the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and also in 1939 the name was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from companies he had acquired in recent times to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business each time of austerity and rationing. For many purposes the firms would be run as being a single entity, but in a business operated by the man to whom delegation wouldn't come naturally the growth of legal entities even so added unhelpful layers of complexity through the 1950s and encouraged a broadening of the range which eventually proved financially unsustainable while using sales volumes achievable. In 1949 company offered 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 started in 1954. The Isabella would become Borgward's hottest model and remained in production to the life of the company. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that was also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such seeing that air suspension and programmed transmission, the company had trouble competing out there. While larger companies like Opel and VW took benefit from economies of scale and also kept their prices low to realize market share, Borgward's cost structure was even more than necessary for its size, as it basically controlled as four tiny independent companies and not implemented such basic price tag reduction strategies as combined development and parts sharing involving the company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced like a water-cooled boxer with front wheel drive, but plagued with problems like water leakage and gearbox secrets. Lloyd lost money on the car community . was more expensive compared to its direct competitors.In 1961, the company was pushed into liquidation by creditors. Carl Borgward died inside July 1963, still insisting the company were being technically solvent. This proved to be true in the sense that after your creditors were paid fully, there was still four. 5 million Marks left from the business.
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Reports of difficulties at Borgward surfaced in a article that appeared with Germany's leading news newspaper, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly vital of Carl Borgward's small business approach, and included many on the arguments later advanced to go into detail or justify the corporation's demise. The widest range involving cars from any company in Germany, produced by three till recently operationally autonomous businesses (Borgward, Goliath and Lloyd) seemed to be supporting a turnover connected with only 650 million Marks, placing the overall sales value through the combined Borgward auto companies 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 designs featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") offered 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 publish delivery warranty work that found their in the past to the company.The December 1960 Spiegel article wasn't the only serious open criticism targeting Borgward right now: suddenly stridently negative (in the event more succinct) comments also resulted in in the influential mass-market Bild classifieds and in television reviews. Critical media commentaries furthermore appeared concerning large loans towards the Borgward Group provided from the local Landesbank.It is apparent how the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses for instance auto manufacturing use his or her expensive machines and tools most efficiently when they use them constantly with full capacity, but the car market in Europe from the 1950s/60s was more in season than today, with sales diminishing throughout Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was greater than usual, reflecting ambitious growth plans, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered through the North American dealers inside 1960 (and with the 12, 000 delivered to these people) 6, 000 might have for being taken back following a slump in Us demand. (Borgward was not the only real European auto maker hit by the North American slump successful for imported cars while in 1960. In the same 12 months two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the lender for a further a single million Marks of credit history, 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 involving critical press comment the actual senators withdrew their assurance. They now required Carl Borgward to pledge this company 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 the actual senate’s terms on some February 1961, thereby averting the bankruptcy with the business.The Bremen Senate in addition insisted on appointing a nominee as chairman in the company’s supervisory board. The man they selected was Johannes Semler which reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice towards breadth of Semler’s vocation. He had studied law at university and worked initially to be a lawyer. The scion of a respected Hamburg political family, in 1945 he experienced himself been a founding member of the centre-right CSU party, and was a member of the Bundestag between 1950 as well as 1953. Despite his Hamburg beginnings, Semler was by these times based in Munich, with a network of contacts within the Bavarian establishment that probably included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the 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 mother board would, in retrospect, contribute to the controversy that followed the Borgward personal bankruptcy.
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On 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the company to continue to trade while at the same time protecting the interests connected with creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of her own, never had any purpose of allowing the Borgward auto-businesses to be able to survive.
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