Borgward can be an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in your 1960s. The Borgward group generated four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's son, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the businesses first new car inside over 40 years, the BX7 at the 2015 International Motor Indicate.The origins of Bremen's most significant auto-business get back on 1905 with the institution in nearby Varel on the "Hansa Automobilgesellschaft" and the foundation in Bremen itself regarding "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and because of the late 1920s faced chapter 7. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand the scope of his car business, and he took control from it.
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The 1st "automobile" Carl Borgward intended was the 1924 Blitzkarren (lightning cart), a sort of tiny three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having been able 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 or perhaps 7 hp Goliath Leader. Borgward turned his focus on the other businesses and also led the development of the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 and in 1939 the title was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from organizations he had acquired in recent times to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business at a time of austerity and rationing. For many purposes the companies would be run being a single entity, but in a business operated with a man to whom delegation didn't come naturally the proliferation of legal entities nevertheless added unhelpful layers of complexity from the 1950s and encouraged a broadening on the range which in the end proved financially unsustainable with all the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of the top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's most widely used model and remained in production with the life of the organization. In 1960 the Borgward P100 seemed to be 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 learning to be a successful Formula Two power unit (which has been also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such seeing that air suspension and computerized transmission, the company had trouble competing in the market. While larger companies similar to Opel and VW took selling point of economies of scale and kept their prices low to achieve market share, Borgward's cost structure was even more than necessary for its sizing, as it basically handled as four tiny independent companies rather than implemented such basic expense reduction strategies as mutual development and parts sharing relating to the company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced being a water-cooled boxer with the front wheel drive, but plagued with problems for instance water leakage and gearbox glitches. Lloyd lost money on the car community . was more expensive than its direct competitors.In 1961, the company was pushed into liquidation by loan companies. Carl Borgward died in July 1963, still insisting the company ended up technically solvent. This proved to be true inside the sense that after this creditors were paid in full, there was still some. 5 million Marks left from the business.
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Stories of difficulties at Borgward surfaced in an article that appeared with Germany's leading news newspaper, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly vital of Carl Borgward's small business approach, and included many of the arguments later advanced to spell out or justify the business's demise. The widest range associated with cars from any manufacturer in Germany, produced by three until eventually recently operationally autonomous companies (Borgward, Goliath and Lloyd) was supporting a turnover associated with only 650 million Represents, placing the overall sales value from your combined Borgward auto companies only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation regarding new and modified products featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") presented rise to components which all too often did not work, broke down or chop down apart, resulting in massive charges for pre-delivery remediation and/or publish delivery warranty work that found their long ago to the company.The December 1960 Spiegel article was not the only serious open public criticism targeting Borgward currently: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild paper and in television studies. Critical media commentaries likewise appeared concerning large loans on the Borgward Group provided because of the local Landesbank.It is apparent the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses including auto manufacturing use their expensive machines and tools most efficiently if they use them constantly with full capacity, but the car market in Europe within the 1950s/60s was more periodic than today, with sales diminishing with 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 options, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered because of the North American dealers with 1960 (and of the 12, 000 delivered to these individuals) 6, 000 might have to be taken back following a slump in North american demand. (Borgward was not the only European auto maker hit by a North American slump in demand for imported cars throughout 1960. In the same year two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the lender for a further 1 million Marks of credit ratings, the loan to be backed by the guarantee from the Bremen local government which initially the Bremen senators decided to provide. However, following the flood of critical press comment the actual senators withdrew their ensure. They now required Carl Borgward to pledge the corporation itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported within a still hostile media, Borgward agreed to your senate’s terms on several February 1961, thereby averting the bankruptcy of the business.The Bremen Senate additionally insisted on appointing a unique nominee as chairman from the company’s supervisory board. The man they decided was Johannes Semler to whom reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice to the breadth of Semler’s vocation. He had studied law at university and worked initially to be a lawyer. The scion of a respected Hamburg political family, in 1945 he received himself been a founding person in the centre-right CSU celebration, and was a person in the Bundestag between 1950 and also 1953. Despite his Hamburg origins, Semler was by on this occasion based in Munich, with a network of contacts in the Bavarian establishment that possibly included fellow CSU politician and 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 to be able to chair the Borgward supervisory table would, in retrospect, contribute to the hot debate that followed the Borgward chapter 7.
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About 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the business to continue to trade while as well protecting the interests associated with creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of his or her own, never had any objective of allowing the Borgward auto-businesses to survive.
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