Borgward is definitely an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in the particular 1960s. The Borgward group created four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's grandson, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the company's first new car with over 40 years, the BX7 at the 2015 International Motor Show.The origins of Bremen's most significant auto-business resume 1905 with the organization in nearby Varel with the "Hansa Automobilgesellschaft" and the walls in Bremen itself involving "Namag", maker of the Lloyd auto. These two businesses merged in 1914 in order 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 because of the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand the actual scope of his automotive business, and he took control of it.
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The primary "automobile" Carl Borgward created was the 1924 Blitzkarren (lightning cart), a sort of little 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 purchased for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the even now three wheeler timber framed synthetic leather bodied 5 or 7 hp Goliath Leading. Borgward turned his awareness of the other businesses and led the development from the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 in addition to in 1939 the identify was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from companies he had acquired over time to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business at a time of austerity and rationing. For many purposes the businesses would be run as being a single entity, but in a business operated by way of a man to whom delegation wouldn't come naturally the proliferation of legal entities however added unhelpful layers of complexity from the 1950s and encouraged a broadening of the range which eventually proved financially unsustainable with all the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of many top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most favored model and remained in production with the life of the firm. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (which was also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such seeing that air suspension and computerized transmission, the company had trouble competing out there. While larger companies such as Opel and VW took benefit of economies of scale and kept their prices low to gain market share, Borgward's cost structure was even greater than necessary for its size, as it basically managed as four tiny independent companies and never implemented such basic price reduction strategies as combined development and parts sharing between company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced as a water-cooled boxer with the front wheel drive, but plagued with problems for example water leakage and gearbox secrets. Lloyd lost money on the car just about the most was more expensive when compared with its direct competitors.In 1961, the company was required into liquidation by creditors. Carl Borgward died with July 1963, still insisting the company ended up technically solvent. This proved to be true inside sense that after the particular creditors were paid fully, there was still four. 5 million Marks remaining from the business.
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Accounts of difficulties at Borgward surfaced within an article that appeared throughout Germany's leading news journal, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly crucial of Carl Borgward's business approach, and included many on the arguments later advanced to describe or justify the corporation's demise. The widest range of cars from any producer in Germany, produced by three until finally recently operationally autonomous corporations (Borgward, Goliath and Lloyd) was supporting a turnover of only 650 million Marks, placing the overall sales value in the combined Borgward auto organizations only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation associated with new and modified types featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") afforded rise to components which many times did not work, broke down or chop down apart, resulting in massive expenses for pre-delivery remediation and/or publish delivery warranty work that found their long ago to the company.The December 1960 Spiegel article hasn't been the only serious general public criticism targeting Borgward currently: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild newspaper and in television reviews. Critical media commentaries likewise appeared concerning large loans to the Borgward Group provided through the local Landesbank.It is apparent that this business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses like auto manufacturing use the expensive machines and tools most efficiently if they use them constantly from full capacity, but the car market in Europe within the 1950s/60s was more seasons than today, with sales diminishing in Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was more than usual, reflecting ambitious growth strategies, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered from the North American dealers in 1960 (and from the 12, 000 delivered to these people) 6, 000 might have to become taken back following a slump in United states demand. (Borgward was not really the only European auto maker hit by way of a North American slump sought after for imported cars in the course of 1960. In the same yr two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached the financial institution for a further 1 million Marks of credit ratings, the loan to be backed by a guarantee from the Bremen local government which initially the Bremen senators decided to provide. However, following the flood regarding critical press comment the actual senators withdrew their guarantee. They now required Carl Borgward to pledge the corporation 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 from the business.The Bremen Senate additionally insisted on appointing a unique nominee as chairman on the company’s supervisory board. The man they chose was Johannes Semler who 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 legislation at university and worked initially as being a lawyer. The scion of a respected Hamburg political family, in 1945 he acquired himself been a founding member of the centre-right CSU party, and was a member of the Bundestag between 1950 in addition to 1953. Despite his Hamburg beginnings, Semler was by this time around based in Munich, with a network of contacts within the Bavarian establishment that most likely included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position inside Bizone. The appointment of Johannes Semler because representative of the Bremen senators in order to chair the Borgward supervisory board would, in retrospect, contribute to the controversy that followed the Borgward a bankruptcy proceeding.
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On 28 July 1961 Semler, as Chairman of your supervisory board joined the directors from the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling this company 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 because of the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of her own, never had any purpose of allowing the Borgward auto-businesses to help survive.
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