Borgward can be an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the 1960s. The Borgward group created four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grand son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the firm's first new car with over 40 years, the BX7 at the actual 2015 International Motor Show.The origins of Bremen's most significant auto-business return to 1905 with the institution in nearby Varel in the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself involving "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and by the late 1920s faced chapter 7. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the scope of his auto business, and he took control than it.
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The initial "automobile" Carl Borgward made was the 1924 Blitzkarren (lightning cart), a sort of teeny three-wheeled van with only two hp (1. 5 kW), which was an enormous success on 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 movie director of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the however three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Leader. Borgward turned his awareness of the other businesses along with led the development in 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 accompanied by the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used a lot 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 how much steel allocated to his business each time of austerity and rationing. For many purposes the companies would be run as a single entity, but in a business operated by the man to whom delegation would not come naturally the growth of legal entities nevertheless added unhelpful layers of complexity throughout the 1950s and encouraged a broadening of the range which eventually proved financially unsustainable while using the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of several 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 to 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 inside the late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (that was also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such because air suspension and intelligent transmission, the company had trouble competing available. While larger companies just like Opel and VW took benefit of economies of scale as well as kept their prices low to achieve market share, Borgward's cost structure was even higher than necessary for its sizing, as it basically operated as four tiny independent companies and never implemented such basic price reduction strategies as mutual development and parts sharing between your company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced as a water-cooled boxer with top 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 compelled into liquidation by creditors. Carl Borgward died within July 1963, still insisting the company have been technically solvent. This proved to be true in the sense that after the actual creditors were paid completely, there was still four. 5 million Marks left over from the business.
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Studies of difficulties at Borgward surfaced within an article that appeared throughout Germany's leading news mag, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly vital of Carl Borgward's organization approach, and included many of the arguments later advanced to go into detail or justify the businesses demise. The widest range regarding cars from any company in Germany, produced by three until finally recently operationally autonomous firms (Borgward, Goliath and Lloyd) ended up being supporting a turnover involving only 650 million Grades, placing the overall sales value in the combined Borgward auto companies only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation associated with new and modified versions featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") gave rise to components which excessively did not work, broke down or fell apart, resulting in massive payments for pre-delivery remediation and/or article delivery warranty work that found their way back to the company.The December 1960 Spiegel article wasn't the only serious open public criticism targeting Borgward right now: suddenly stridently negative (in the event more succinct) comments also turned up in the influential mass-market Bild magazine and in television accounts. Critical media commentaries furthermore appeared concerning large loans for the Borgward Group provided because of the local Landesbank.It is apparent the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses including auto manufacturing use their own expensive machines and tools most efficiently as long as they use them constantly from full capacity, but the car market in Europe inside 1950s/60s was more seasons than today, with sales diminishing in Winter, then peaking in early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was higher than usual, reflecting ambitious growth options, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered by the North American dealers in 1960 (and on the 12, 000 delivered to these people) 6, 000 might have being taken back following a slump in Us demand. (Borgward was not really the only European auto maker hit by a North American slump sought after for imported cars during 1960. In the same 12 months two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Big apple were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached the bank for a further one million Marks of credit history, the loan to be backed by way of a guarantee from the Bremen regional government which initially the Bremen senators decided provide. However, following the flood associated with critical press comment this senators withdrew their assure. 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 a still hostile media, Borgward agreed to the actual senate’s terms on some February 1961, thereby averting the bankruptcy of the business.The Bremen Senate likewise insisted on appointing a unique nominee as chairman in the company’s supervisory board. The man they selected was Johannes Semler to whom reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice for the breadth of Semler’s job. He had studied legislation at university and worked initially to be a lawyer. The scion of a leading Hamburg political family, in 1945 he got himself been a founding person in the centre-right CSU celebration, and was a member of the Bundestag between 1950 in addition to 1953. Despite his Hamburg sources, Semler was by this time based in Munich, with a network of contacts within the Bavarian establishment that likely included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position from the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators for you to chair the Borgward supervisory board would, in retrospect, contribute to the hot debate that followed the Borgward personal bankruptcy.
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On 28 July 1961 Semler, as Chairman of this supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while concurrently protecting the interests involving creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of her own, never had any intent of allowing the Borgward auto-businesses to be able to survive.
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