Borgward is usually an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in your 1960s. The Borgward group developed four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grand son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the businesses first new car throughout over 40 years, the BX7 at the 2015 International Motor Present.The origins of Bremen's most significant auto-business return to 1905 with the business in nearby Varel in the "Hansa Automobilgesellschaft" and the muse in Bremen itself involving "Namag", maker of the Lloyd car. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and by 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 scope of his automobile business, and he took control of it.
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The very first "automobile" Carl Borgward created was the 1924 Blitzkarren (super cart), a sort of very small three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success already in the market gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the still three wheeler timber framed synthetic leather bodied 5 or perhaps 7 hp Goliath Leading. Borgward turned his awareness of the other businesses and led the development in 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 and then the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from organizations he had acquired in recent times to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business at the same time of austerity and rationing. For many purposes the businesses would be run to be a single entity, but in a business operated by the man to whom delegation didn't come naturally the expansion of legal entities even so added unhelpful layers of complexity throughout the 1950s and encouraged a broadening from the range which in the end proved financially unsustainable while using the sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.One of many top engineers at Borgward via 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 to the life of the firm. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers from the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (that is also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such because air suspension and intelligent transmission, the company had trouble competing in the marketplace. While larger companies including Opel and VW took benefit of economies of scale and kept their prices low to realize market share, Borgward's cost structure was even beyond necessary for its dimensions, as it basically run as four tiny independent companies rather than implemented such basic expense reduction strategies as combined development and parts sharing between the company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced as a water-cooled boxer with top wheel drive, but plagued with problems for example water leakage and gearbox mistakes. Lloyd lost money on the car community . was more expensive compared to its direct competitors.In 1961, the company was required into liquidation by lenders. Carl Borgward died inside July 1963, still insisting the company was technically solvent. This proved to be true in the sense that after the particular creditors were paid completely, there was still some. 5 million Marks left over from the business.
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Reviews of difficulties at Borgward surfaced within an article that appeared inside Germany's leading news publication, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly essential of Carl Borgward's small business approach, and included many of the arguments later advanced to spell out or justify the businesses demise. The widest range regarding cars from any manufacturer in Germany, produced by three until eventually recently operationally autonomous organizations (Borgward, Goliath and Lloyd) was supporting a turnover connected with only 650 million Grades, placing the overall sales value from the combined Borgward auto organizations only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation associated 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 chop down apart, resulting in massive expenses for pre-delivery remediation and/or submit delivery warranty work that found their way back to the company.The December 1960 Spiegel article had not been the only serious community criticism targeting Borgward at this time: suddenly stridently negative (in the event that more succinct) comments also turned up in the influential mass-market Bild paper 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 towards the end of 1960. Capital intensive businesses such as auto manufacturing use their own expensive machines and tools most efficiently if they use them constantly from full capacity, but the car market in Europe in the 1950s/60s was more temporary than today, with sales diminishing inside Winter, then peaking in the early 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 united states market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered because of the North American dealers within 1960 (and from the 12, 000 delivered to all of them) 6, 000 might have to become taken back following a slump in Us demand. (Borgward was not really the only European auto maker hit by the North American slump successful for imported cars throughout 1960. In the same 12 months two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in Big apple were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached the lending company for a further just one million Marks of credit, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators consented to provide. However, following the flood connected with critical press comment the actual senators withdrew their assure. 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 in a very still hostile media, Borgward agreed to this senate’s terms on several February 1961, thereby averting the bankruptcy on the business.The Bremen Senate additionally insisted on appointing a unique nominee as chairman with the company’s supervisory board. The man they selected was Johannes Semler who reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice for the breadth of Semler’s profession. He had studied legislations at university and worked initially to be a lawyer. The scion of a leading Hamburg political family, in 1945 he experienced himself been a founding person in the centre-right CSU gathering, and was a person in the Bundestag between 1950 along with 1953. Despite his Hamburg sources, Semler was by this time based in Munich, with a network of contacts from the Bavarian establishment that likely included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position within the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators to chair the Borgward supervisory board would, in retrospect, contribute to the hot debate that followed the Borgward bankruptcy.
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On 28 July 1961 Semler, as Chairman of your supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings to the establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the organization to continue to trade while at the same time protecting the interests involving creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his own, never had any objective of allowing the Borgward auto-businesses in order to survive.
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