Borgward is surely an automobile manufacturer originally created 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 automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's grand son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from China investment, and unveiled the company's first new car throughout over 40 years, the BX7 at the particular 2015 International Motor Present.The origins of Bremen's most significant auto-business return to 1905 with the business in nearby Varel with the "Hansa Automobilgesellschaft" and the muse 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 economic situation then confronting Germany, the business failed to prosper and through the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the particular scope of his car business, and he took control of it.
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The initial "automobile" Carl Borgward designed was the 1924 Blitzkarren (turbo cart), a sort of tiny three-wheeled van with two hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the even now three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Leading. Borgward turned his care about the other businesses as well as led the development in the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 in addition to in 1939 the brand was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from corporations he had acquired over the years to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business at a time of austerity and rationing. For many purposes the companies would be run to be a single entity, but in a business operated by the man to whom delegation failed to come naturally the proliferation of legal entities however added unhelpful layers of complexity through the 1950s and encouraged a broadening on the range which ultimately proved financially unsustainable with all the sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.Among the top engineers at Borgward coming from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's most popular model and remained in production for your life of the firm. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (that was also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such as air suspension and automated transmission, the company had trouble competing out there. While larger companies such as Opel and VW took advantage of economies of scale as well as kept their prices low to realize market share, Borgward's cost structure was even above necessary for its dimension, as it basically handled as four tiny independent companies and never implemented such basic expense reduction strategies as mutual development and parts sharing between your company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced to be a water-cooled boxer with entry wheel drive, but plagued with problems like water leakage and gearbox mistakes. Lloyd lost money on the car just about the most was more expensive as compared to its direct competitors.In 1961, the company was pressured into liquidation by loan companies. Carl Borgward died within July 1963, still insisting the company were being technically solvent. This proved to be true in the sense that after your creditors were paid completely, there was still several. 5 million Marks left over from the business.
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Studies of difficulties at Borgward surfaced within an article that appeared with Germany's leading news mag, “Der Spiegel” on 18 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 entrance cover. It was strongly crucial of Carl Borgward's small business approach, and included many on the arguments later advanced to explain or justify the business's demise. The widest range associated with cars from any producer in Germany, produced by three till recently operationally autonomous companies (Borgward, Goliath and Lloyd) ended up being supporting a turnover associated with only 650 million Marks, placing the overall sales value from the combined Borgward auto companies only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation regarding new and modified designs featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") gave rise to components which too often did not work, broke down or dropped apart, resulting in massive payments for pre-delivery remediation and/or post delivery warranty work that found their long ago to the company.The December 1960 Spiegel article had not been the only serious open criticism targeting Borgward at the moment: suddenly stridently negative (in the event more succinct) comments also turned up in the influential mass-market Bild newspaper and in television reviews. Critical media commentaries in addition appeared concerning large loans towards the Borgward Group provided from the local Landesbank.It is apparent that this business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses like auto manufacturing use the expensive machines and tools most efficiently should they use them constantly at full capacity, but the car market in Europe in the 1950s/60s was more seasonal than today, with sales diminishing throughout Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars at the end of 1960 was above usual, reflecting ambitious growth ideas, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered by the North American dealers within 1960 (and with the 12, 000 delivered to all of them) 6, 000 might have to be taken back following a slump in Us demand. (Borgward was not the only European auto maker hit by way of a North American slump successful for imported cars in the course of 1960. In the same year two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in Big apple were overcrowded with unsold Dauphines.
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At the conclusion of December 1960 Borgward approached the lender for a further just one million Marks of credit history, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators consented to provide. However, following the flood connected with critical press comment this senators withdrew their assure. They now required Carl Borgward to pledge the organization 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 5 February 1961, thereby averting the bankruptcy of the business.The Bremen Senate in addition insisted on appointing its nominee as chairman in the company’s supervisory board. The man they chose was Johannes Semler whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice for the breadth of Semler’s job. He had studied legislations 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 member of the centre-right CSU get together, and was a person in the Bundestag between 1950 along with 1953. Despite his Hamburg origins, Semler was by now based in Munich, with a network of contacts inside the Bavarian establishment that almost certainly included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position inside Bizone. The appointment of Johannes Semler because representative of the Bremen senators in order to chair the Borgward supervisory table would, in retrospect, contribute to the dispute that followed the Borgward personal bankruptcy.
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With 28 July 1961 Semler, as Chairman of this supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling this company to continue to trade while as well protecting the interests connected with creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of her own, never had any objective of allowing the Borgward auto-businesses in order to survive.
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