Borgward is definitely an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in the particular 1960s. The Borgward group generated four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grandson, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the company's first new car throughout 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 business in nearby Varel with the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself of "Namag", maker of the Lloyd vehicle. 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 through the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand your scope of his vehicle business, and he took control than it.
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The very first "automobile" Carl Borgward created was the 1924 Blitzkarren (turbo cart), a sort of teeny three-wheeled van with two 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 some of them 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 by now evolved into the even now three wheeler timber presented synthetic leather bodied 5 or perhaps 7 hp Goliath Pioneer. Borgward turned his focus on the other businesses along with led the development with the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 and also in 1939 the label was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from businesses he had acquired in recent times to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business during a period of austerity and rationing. For many purposes the lenders would be run being a single entity, but in a business operated by a man to whom delegation failed to come naturally the growth of legal entities on the other hand added unhelpful layers of complexity through the 1950s and encouraged a broadening on the range which finally proved financially unsustainable with the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of many top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's hottest model and remained in production for the life of the business. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers in 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 in the German market such since air suspension and programmed transmission, the company had trouble competing available. While larger companies including Opel and VW took benefit from economies of scale as well as kept their prices low to realize market share, Borgward's cost structure was even beyond necessary for its sizing, as it basically managed as four tiny independent companies and not implemented such basic expense reduction strategies as combined development and parts sharing involving the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced as being a water-cooled boxer with entrance wheel drive, but plagued with problems like water leakage and gearbox errors. Lloyd lost money on the car though it was more expensive in comparison with its direct competitors.In 1961, the company was required into liquidation by credit card companies. Carl Borgward died throughout July 1963, still insisting the company were being technically solvent. This proved to be true within the sense that after the creditors were paid completely, there was still some. 5 million Marks remaining from the business.
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Reports of difficulties at Borgward surfaced within the article that appeared within Germany's leading news mag, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly vital of Carl Borgward's business approach, and included many with the arguments later advanced to describe or justify the corporation's demise. The widest range regarding cars from any company in Germany, produced by three till recently operationally autonomous companies (Borgward, Goliath and Lloyd) has been supporting a turnover of 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 associated with new and modified versions featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") presented rise to components which too often did not work, broke down or fell apart, resulting in massive charges for pre-delivery remediation and/or article delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article wasn't the only serious community criticism targeting Borgward right now: suddenly stridently negative (when more succinct) comments also turned up in the influential mass-market Bild classifieds and in television studies. Critical media commentaries likewise appeared concerning large loans for the Borgward Group provided with the local Landesbank.It is apparent that this business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses for example auto manufacturing use his or her expensive machines and tools most efficiently whenever they use them constantly from full capacity, but the car market in Europe from the 1950s/60s was more temporary than today, with sales diminishing throughout Winter, then peaking in early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was more than usual, reflecting ambitious growth plans, 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 from the 12, 000 delivered to these individuals) 6, 000 might have to become taken back following a slump in American demand. (Borgward was not the only real European auto maker hit with a North American slump widely used for imported cars through 1960. In the same year 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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Towards the end of December 1960 Borgward approached the bank for a further one particular million Marks of credit, the loan to be backed with a guarantee from the Bremen regional government which initially the Bremen senators agreed to provide. However, following the flood associated with critical press comment the 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 within a still hostile media, Borgward agreed to your senate’s terms on 5 February 1961, thereby averting the bankruptcy from the business.The Bremen Senate also insisted on appointing its own nominee as chairman of the company’s supervisory board. The man they selected was Johannes Semler which reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice towards breadth of Semler’s occupation. He had studied regulation at university and worked initially as being a lawyer. The scion of a respected Hamburg political family, in 1945 he received himself been a founding person in the centre-right CSU bash, and was a member of the Bundestag between 1950 along with 1953. Despite his Hamburg roots, Semler was by this time around based in Munich, with a network of contacts in the Bavarian establishment that probably included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position inside Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators to be able to chair the Borgward supervisory aboard would, in retrospect, contribute to the hot debate that followed the Borgward individual bankruptcy.
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About 28 July 1961 Semler, as Chairman of this supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the business to continue to trade while simultaneously protecting the interests of creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of their own, never had any goal of allowing the Borgward auto-businesses to survive.
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