Borgward can be an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in the 1960s. The Borgward group generated 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 partner Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the business's first new car inside over 40 years, the BX7 at the 2015 International Motor Present.The origins of Bremen's most significant auto-business get back on 1905 with the establishment in nearby Varel from the "Hansa Automobilgesellschaft" and the foundation in Bremen itself involving "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to make 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 with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand the scope of his automobile business, and he took control from it.
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The primary "automobile" Carl Borgward developed was the 1924 Blitzkarren (turbo cart), a sort of tiny three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget purchased for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the nonetheless three wheeler timber presented synthetic leather bodied 5 as well as 7 hp Goliath Leading. Borgward turned his attention to the other businesses and also led the development in the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 in addition to in 1939 the name was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from firms he had acquired over time to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business at any given time of austerity and rationing. For many purposes nokia's would be run being a single entity, but in a business operated by a man to whom delegation failed to come naturally the expansion of legal entities on the other hand added unhelpful layers of complexity with the 1950s and encouraged a broadening with the range which ultimately proved financially unsustainable using the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of the top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella commenced in 1954. The Isabella would become Borgward's most widely used model and remained in production with the life of the business. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers in the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (which has been also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such while air suspension and programmed transmission, the company had trouble competing available. While larger companies similar to Opel and VW took advantage of 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 run as four tiny independent companies and don't implemented such basic charge reduction strategies as articulation development and parts sharing involving the company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced as being a water-cooled boxer with entrance wheel drive, but plagued with problems for example water leakage and gearbox snags. Lloyd lost money on the car community . was more expensive compared to its direct competitors.In 1961, the company was forced into liquidation by credit card companies. Carl Borgward died within July 1963, still insisting the company was technically solvent. This proved to be true within the sense that after this creditors were paid completely, there was still several. 5 million Marks left over from the business.
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Reports of difficulties at Borgward surfaced in an article that appeared within Germany's leading news newspaper, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly crucial of Carl Borgward's organization approach, and included many of the arguments later advanced to describe or justify the corporation's demise. The widest range of cars from any maker in Germany, produced by three until eventually recently operationally autonomous corporations (Borgward, Goliath and Lloyd) had been supporting a turnover regarding only 650 million Grades, placing the overall sales value from your combined Borgward auto organizations only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation connected with new and modified products featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") presented rise to components which too often did not work, broke down or droped apart, resulting in massive bills for pre-delivery remediation and/or submit delivery warranty work that found their long ago to the company.The December 1960 Spiegel article had not been the only serious public criticism targeting Borgward at this time: suddenly stridently negative (in case more succinct) comments also resulted in in the influential mass-market Bild magazine and in television reviews. Critical media commentaries in addition appeared concerning large loans on the Borgward Group provided because of the local Landesbank.It is apparent how the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses such as auto manufacturing use his or her expensive machines and tools most efficiently as long as they use them constantly at full capacity, but the car market in Europe from the 1950s/60s was more periodic than today, with sales diminishing throughout Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was above usual, reflecting ambitious growth ideas, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered from the North American dealers within 1960 (and in the 12, 000 delivered to them) 6, 000 might have to get taken back following a slump in United states demand. (Borgward was not the only real European auto maker hit by a North American slump widely used for imported cars through 1960. In the same yr two ships carrying Renault Dauphines were turned the government financial aid 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 your banker for a further one million Marks of credit rating, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators decided to provide. However, following the flood connected with critical press comment the particular senators withdrew their promise. They now required Carl Borgward to pledge the company 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 the particular senate’s terms on 5 February 1961, thereby averting the bankruptcy of the business.The Bremen Senate in addition insisted on appointing its very own nominee as chairman on the company’s supervisory board. The man they decided to go with was Johannes Semler to whom reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice towards breadth of Semler’s job. He had studied law at university and worked initially being a lawyer. The scion of a top Hamburg political family, in 1945 he had himself been a founding member of the centre-right CSU celebration, and was a member of the Bundestag between 1950 and 1953. Despite his Hamburg beginning, Semler was by this time based in Munich, with a network of contacts from the Bavarian establishment that most likely included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position in the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators in order 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 for that establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling this company to continue to trade while while doing so protecting the interests associated with creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his or her own, never had any intent of allowing the Borgward auto-businesses to survive.
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