Borgward is usually an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in the actual 1960s. The Borgward group made four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the company's first new car with over 40 years, the BX7 at the particular 2015 International Motor Present.The origins of Bremen's most significant auto-business resume 1905 with the establishment in nearby Varel on the "Hansa Automobilgesellschaft" and the walls in Bremen itself connected with "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 to create 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 individual bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand the particular scope of his auto business, and he took control from it.
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The primary "automobile" Carl Borgward developed was the 1924 Blitzkarren (super cart), a sort of tiny 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 purchased for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 or perhaps 7 hp Goliath Pioneer. Borgward turned his attention to the other businesses and also led the development from the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 and in 1939 the title was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from businesses he had acquired in the past to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business at any given time of austerity and rationing. For many purposes the companies would be run as a single entity, but in a business operated with a man to whom delegation would not come naturally the proliferation of legal entities nevertheless added unhelpful layers of complexity with the 1950s and encouraged a broadening with the range which ultimately proved financially unsustainable while using sales volumes achievable. In 1949 company shown 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 started in 1954. The Isabella would become Borgward's most popular model and remained in production with the life of the business. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers in the late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (which was also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such because air suspension and automatic transmission, the company had trouble competing in the marketplace. While larger companies including Opel and VW took selling point of economies of scale along with kept their prices low to achieve market share, Borgward's cost structure was even greater than necessary for its dimensions, as it basically controlled as four tiny independent companies and never implemented such basic price reduction strategies as joint development and parts sharing between your company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced as being a water-cooled boxer with entry wheel drive, but plagued with problems like water leakage and gearbox secrets. Lloyd lost money on the car though it was more expensive compared to its direct competitors.In 1961, the company was forced into liquidation by creditors. Carl Borgward died within July 1963, still insisting the company was technically solvent. This proved to be true inside sense that after your creditors were paid entirely, there was still four. 5 million Marks remaining from the business.
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Accounts of difficulties at Borgward surfaced in a article that appeared throughout Germany's leading news journal, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly critical of Carl Borgward's enterprise approach, and included many on the arguments later advanced to spell out or justify the firm's demise. The widest range regarding cars from any producer in Germany, produced by three till recently operationally autonomous firms (Borgward, Goliath and Lloyd) seemed to be supporting a turnover involving only 650 million Signifies, placing the overall sales value in the combined Borgward auto businesses only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation of new and modified models featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") presented rise to components which too often did not work, broke down or chop down apart, resulting in massive costs for pre-delivery remediation and/or write-up delivery warranty work that found their long ago to the company.The December 1960 Spiegel article wasn't the only serious public criticism targeting Borgward currently: suddenly stridently negative (in the event that more succinct) comments also turned up in the influential mass-market Bild newspaper and in television reports. Critical media commentaries in addition appeared concerning large loans on the Borgward Group provided through the local Landesbank.It is apparent how the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses like auto manufacturing use their particular expensive machines and tools most efficiently when they use them constantly with full capacity, but the car market in Europe inside 1950s/60s was more seasonal than today, with sales diminishing throughout Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars at the end of 1960 was beyond 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 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 American demand. (Borgward was not the only real European auto maker hit with a North American slump widely used for imported cars while in 1960. In the same year two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached the bank for a further 1 million Marks of credit rating, the loan to be backed with a guarantee from the Bremen regional government which initially the Bremen senators consented to provide. However, following the flood involving critical press comment the actual senators withdrew their ensure. 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 in the still hostile media, Borgward agreed to the senate’s terms on 4 February 1961, thereby averting the bankruptcy with the business.The Bremen Senate likewise insisted on appointing its nominee as chairman on the company’s supervisory board. The man they selected was Johannes Semler with whom reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice for the breadth of Semler’s career. He had studied legislation at university and worked initially as being a lawyer. The scion of a number one Hamburg political family, in 1945 he got himself been a founding person in the centre-right CSU party, and was a member of the Bundestag between 1950 and 1953. Despite his Hamburg sources, Semler was by now based in Munich, with a network of contacts from the Bavarian establishment that possibly included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position from the Bizone. The appointment of Johannes Semler because the 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 a bankruptcy proceeding.
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Upon 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided to get a court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while at the same time protecting the interests regarding creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his or her own, never had any goal of allowing the Borgward auto-businesses to be able to survive.
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