Borgward can be an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in the particular 1960s. The Borgward group developed four brands of cars and trucks: 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 China investment, and unveiled the businesses first new car within 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 organization in nearby Varel of the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself involving "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 in order 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 bankruptcy. For Carl Borgward, already the successful creator with 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 than it.
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The very first "automobile" Carl Borgward created was the 1924 Blitzkarren (lightning cart), a sort of small three-wheeled van with 2 hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the however three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Leader. Borgward turned his attention to the other businesses in addition to led the development with the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and in 1939 the title was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from organizations he had acquired in recent times to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business at the same 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 man to whom delegation failed to come naturally the growth of legal entities even so added unhelpful layers of complexity from the 1950s and encouraged a broadening with the range which in the end proved financially unsustainable with the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.Among the 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 most widely used model and remained in production for that life of the company. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (that has been also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such while air suspension and programmed transmission, the company had trouble competing available on the market. While larger companies similar to Opel and VW took good thing about economies of scale as well as kept their prices low to find market share, Borgward's cost structure was even more than necessary for its dimension, as it basically operated as four tiny independent companies and don't implemented such basic price reduction strategies as joint development and parts sharing between the company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced like a water-cooled boxer with top wheel drive, but plagued with problems including water leakage and gearbox snags. Lloyd lost money on the car just about the most was more expensive compared to its direct competitors.In 1961, the company was pressured into liquidation by collectors. 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 creditors were paid entirely, there was still 5. 5 million Marks remaining from the business.
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Reports of difficulties at Borgward surfaced in the article that appeared throughout Germany's leading news publication, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly important of Carl Borgward's business approach, and included many on the arguments later advanced to go into detail or justify the company's demise. The widest range involving cars from any supplier in Germany, produced by three until recently operationally autonomous companies (Borgward, Goliath and Lloyd) was supporting a turnover of only 650 million Scars, placing the overall sales value from the combined Borgward auto businesses only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation associated with new and modified products featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") gave rise to components which too much did not work, broke down or dropped 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 hasn't been the only serious open criticism targeting Borgward at this time: suddenly stridently negative (in case more succinct) comments also turned up in the influential mass-market Bild paper and in television reports. Critical media commentaries furthermore appeared concerning large loans towards the Borgward Group provided by the local Landesbank.It is apparent the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses for example auto manufacturing use their particular expensive machines and tools most efficiently if they use them constantly in full capacity, but the car market in Europe in the 1950s/60s was more periodic than today, with sales diminishing within Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars by the end of 1960 was above usual, reflecting ambitious growth options, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered from the North American dealers throughout 1960 (and with the 12, 000 delivered to these individuals) 6, 000 might have to become taken back following a slump in United states demand. (Borgward was not the sole European auto maker hit by the North American slump sought after for imported cars in the course of 1960. In the same 12 months two ships carrying Renault Dauphines were turned in 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 just one 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 regarding critical press comment the senators withdrew their ensure. 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 in the still hostile media, Borgward agreed to the senate’s terms on some February 1961, thereby averting the bankruptcy in the business.The Bremen Senate furthermore insisted on appointing a unique nominee as chairman with the company’s supervisory board. The man they chose 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 the breadth of Semler’s job. He had studied regulation at university and worked initially like a lawyer. The scion of a respected Hamburg political family, in 1945 he acquired himself been a founding person in the centre-right CSU celebration, and was a member of the Bundestag between 1950 and also 1953. Despite his Hamburg beginnings, Semler was by these times 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 in the top administrative position in the Bizone. The appointment of Johannes Semler because representative of the Bremen senators for you to chair the Borgward supervisory mother board would, in retrospect, contribute to the debate that followed the Borgward individual bankruptcy.
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On 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 this company to continue to trade while while doing so protecting the interests of creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of her own, never had any goal of allowing the Borgward auto-businesses to survive.
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