Borgward can be an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in the particular 1960s. The Borgward group created four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's grandson, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from China investment, and unveiled the company's first new car inside over 40 years, the BX7 at the particular 2015 International Motor Display.The origins of Bremen's most significant auto-business return to 1905 with the institution in nearby Varel of the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself associated with "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and by the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand the particular scope of his car business, and he took control than it.
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The primary "automobile" Carl Borgward designed was the 1924 Blitzkarren (turbo cart), a sort of teeny three-wheeled van with 3 hp (1. 5 kW), which was an enormous success already in the market gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered most 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 right now evolved into the nevertheless three wheeler timber framed synthetic leather bodied 5 or even 7 hp Goliath Leader. Borgward turned his focus on the other businesses along with led the development on 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 remained in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from firms he had acquired through the years to found three separate 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 companies would be run being a single entity, but in a business operated by way of a man to whom delegation wouldn't come naturally the expansion of legal entities nonetheless added unhelpful layers of complexity over the 1950s and encouraged a broadening on the range which eventually proved financially unsustainable with the sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.On the list of top engineers at Borgward coming from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's most favored model and remained in production to the life of the company. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a 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 a few F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such as air suspension and automated transmission, the company had trouble competing in the marketplace. While larger companies such as Opel and VW took benefit of economies of scale and also kept their prices low to realize 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 price tag reduction strategies as articulation development and parts sharing between company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced as a water-cooled boxer with the front wheel drive, but plagued with problems including water leakage and gearbox errors. Lloyd lost money on the car although it was more expensive when compared with its direct competitors.In 1961, the company was pressured into liquidation by credit card companies. Carl Borgward died inside July 1963, still insisting the company have been technically solvent. This proved to be true in the sense that after the particular creditors were paid 100 %, there was still several. 5 million Marks remaining from the business.
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Studies of difficulties at Borgward surfaced in the article that appeared with Germany's leading news mag, “Der Spiegel” on 14 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 enterprise approach, and included many of the arguments later advanced to spell out or justify the business's demise. The widest range of cars from any company in Germany, produced by three until recently operationally autonomous companies (Borgward, Goliath and Lloyd) was supporting a turnover regarding only 650 million Grades, placing the overall sales value through the combined Borgward auto corporations only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation involving new and modified versions featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") gave rise to components which all too often did not work, broke down or fell apart, resulting in massive charges for pre-delivery remediation and/or write-up delivery warranty work that found their way back to the company.The December 1960 Spiegel article has not been the only serious open public criticism targeting Borgward at this time: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild classifieds and in television studies. Critical media commentaries furthermore appeared concerning large loans for the Borgward Group provided by the local Landesbank.It is apparent which the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses like auto manufacturing use his or her expensive machines and tools most efficiently should they use them constantly in full capacity, but the car market in Europe from the 1950s/60s was more seasonal than today, with sales diminishing throughout Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars towards the end of 1960 was above usual, reflecting ambitious growth programs, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered because of the North American dealers inside 1960 (and on the 12, 000 delivered to these individuals) 6, 000 might have being taken back following a slump in Us demand. (Borgward was not really the only European auto maker hit by way of a North American slump sought after for imported cars throughout 1960. In the same calendar year two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the lending company for a further one million Marks of credit rating, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators agreed to provide. However, following the flood involving critical press comment the particular senators withdrew their assure. 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 inside a still hostile media, Borgward agreed to this senate’s terms on some February 1961, thereby averting the bankruptcy from the business.The Bremen Senate additionally insisted on appointing its own nominee as chairman from the company’s supervisory board. The man they decided to go with was Johannes Semler whom 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 being a lawyer. The scion of a leading Hamburg political family, in 1945 he received himself been a founding person in the centre-right CSU celebration, and was a person in the Bundestag between 1950 and also 1953. Despite his Hamburg beginning, Semler was by this time around based in Munich, with a network of contacts inside Bavarian establishment that probably included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position from the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators for you to chair the Borgward supervisory aboard would, in retrospect, contribute to the dispute that followed the Borgward a bankruptcy proceeding.
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In 28 July 1961 Semler, as Chairman of the 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 the court sanctioned scheme of arrangement enabling the organization to continue to trade while at the same time protecting the interests connected with 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” include suggested that Semler, for reasons of her own, never had any intent of allowing the Borgward auto-businesses for you to survive.
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