Borgward can be an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in the 1960s. The Borgward group created four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grandson, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the corporation'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 to 1905 with the place in nearby Varel of the "Hansa Automobilgesellschaft" and the walls in Bremen itself involving "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 because of the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand this scope of his car business, and he took control of computer.
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The primary "automobile" Carl Borgward created was the 1924 Blitzkarren (turbo cart), a sort of tiny three-wheeled van with only two 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 most of them for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Company. " 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 Pioneer. Borgward turned his attention to the other businesses and also led the development with the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 along with in 1939 the identify was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from firms he had acquired over the years to found three distinct 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 lenders would be run like a single entity, but in a business operated by the man to whom delegation didn't come naturally the expansion of legal entities however added unhelpful layers of complexity from the 1950s and encouraged a broadening of the range which in the end proved financially unsustainable with all the sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.One of several top engineers at Borgward from 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 for the life of the company. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers from the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that was also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such seeing that air suspension and intelligent transmission, the company had trouble competing available. While larger companies like Opel and VW took selling point of economies of scale and kept their prices low to find market share, Borgward's cost structure was even beyond necessary for its dimensions, as it basically run as four tiny independent companies and do not implemented such basic charge reduction strategies as shared development and parts sharing between your company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced to be a water-cooled boxer with entry wheel drive, but plagued with problems such as water leakage and gearbox snags. Lloyd lost money on the car even though it was more expensive than its direct competitors.In 1961, the company was pushed into liquidation by credit card companies. Carl Borgward died inside July 1963, still insisting the company were being technically solvent. This proved to be true from the sense that after your creditors were paid 100 %, there was still several. 5 million Marks remaining from the business.
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Accounts of difficulties at Borgward surfaced in an article that appeared with Germany's leading news mag, “Der Spiegel” on 18 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 entry cover. It was strongly critical of Carl Borgward's small business approach, and included many from the arguments later advanced to describe or justify the corporation's demise. The widest range involving cars from any producer in Germany, produced by three until recently operationally autonomous organizations (Borgward, Goliath and Lloyd) ended up being supporting a turnover involving only 650 million Represents, placing the overall sales value in the combined Borgward auto companies only in fifth location 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 versions featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") presented rise to components which excessively did not work, broke down or dropped apart, resulting in massive bills for pre-delivery remediation and/or submit delivery warranty work that found their way back to the company.The December 1960 Spiegel article was not the only serious open criticism targeting Borgward presently: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild classifieds and in television studies. Critical media commentaries likewise appeared concerning large loans to the Borgward Group provided with the local Landesbank.It is apparent that this business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses including 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 in the 1950s/60s was more in season than today, with sales diminishing within Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars towards the end of 1960 was higher than usual, reflecting ambitious growth options, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered from the North American dealers in 1960 (and of the 12, 000 delivered to them) 6, 000 might have to get taken back following a slump in United states demand. (Borgward was not really the only European auto maker hit by way of North American slump popular for imported cars throughout 1960. In the same season two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached the bank for a further just one million Marks of credit history, 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 of critical press comment the particular senators withdrew their assure. They now required Carl Borgward to pledge this company 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 the particular senate’s terms on four February 1961, thereby averting the bankruptcy with the business.The Bremen Senate additionally 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 being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice towards breadth of Semler’s occupation. He had studied legislations at university and worked initially as a lawyer. The scion of a leading Hamburg political family, in 1945 he acquired himself been a founding member of the centre-right CSU gathering, and was a person in the Bundestag between 1950 in addition to 1953. Despite his Hamburg roots, Semler was by these times based in Munich, with a network of contacts within the Bavarian establishment that almost certainly included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position inside the Bizone. The appointment of Johannes Semler because representative of the Bremen senators to be able to chair the Borgward supervisory panel would, in retrospect, contribute to the hot debate that followed the Borgward bankruptcy.
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Upon 28 July 1961 Semler, as Chairman of the supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while as well protecting the interests associated with creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of her own, never had any intention of allowing the Borgward auto-businesses to help survive.
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