Borgward is usually an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in your 1960s. The Borgward group created four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the firm's first new car inside over 40 years, the BX7 at your 2015 International Motor Display.The origins of Bremen's most significant auto-business get back on 1905 with the business in nearby Varel of the "Hansa Automobilgesellschaft" and the muse in Bremen itself regarding "Namag", maker of the Lloyd vehicle. 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 individual bankruptcy. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand the particular scope of his automotive business, and he took control of it.
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The initial "automobile" Carl Borgward designed was the 1924 Blitzkarren (lightning cart), a sort of tiny three-wheeled van with only two hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the even now three wheeler timber presented synthetic leather bodied 5 or perhaps 7 hp Goliath Founder. Borgward turned his care about the other businesses and led the development with the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 as well as in 1939 the label was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from companies he had acquired in recent times to found three different 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 like a single entity, but in a business operated by way of a man to whom delegation did not come naturally the growth of legal entities even so added unhelpful layers of complexity throughout the 1950s and encouraged a broadening with the range which eventually proved financially unsustainable while using sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.On the list of 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 in-demand model and remained in production for that life of the company. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers inside late 1950s, with the 16-valve engine from these learning to be 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 while air suspension and automatic transmission, the company had trouble competing available on the market. While larger companies just like Opel and VW took benefit of economies of scale along with kept their prices low to get market share, Borgward's cost structure was even more than necessary for its size, as it basically managed as four tiny independent companies and not implemented such basic cost reduction strategies as shared development and parts sharing involving the company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced to be a water-cooled boxer with the front wheel drive, but plagued with problems for instance water leakage and gearbox secrets. Lloyd lost money on the car although it was more expensive than its direct competitors.In 1961, the company was pushed into liquidation by collectors. Carl Borgward died throughout July 1963, still insisting the company had been technically solvent. This proved to be true from the sense that after the actual creditors were paid in full, 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 in Germany's leading news magazine, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly critical of Carl Borgward's small business approach, and included many in the arguments later advanced to spellout or justify the business's demise. The widest range involving cars from any producer in Germany, produced by three until eventually 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 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 involving new and modified types featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") presented rise to components which too much did not work, broke down or dropped apart, resulting in massive costs for pre-delivery remediation and/or write-up delivery warranty work that found their long ago to the company.The December 1960 Spiegel article was not the only serious community criticism targeting Borgward at the moment: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild paper and in television stories. Critical media commentaries also appeared concerning large loans to the Borgward Group provided because of the local Landesbank.It is apparent that this business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses like 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 from the 1950s/60s was more temporary than today, with sales diminishing within Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars at the end of 1960 was greater than usual, reflecting ambitious growth strategies, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered with the North American dealers inside 1960 (and from the 12, 000 delivered to these people) 6, 000 might have being taken back following a slump in United states demand. (Borgward was not the one European auto maker hit by the North American slump successful for imported cars throughout 1960. In the same 12 months two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
At the end of December 1960 Borgward approached the lending company for a further one million Marks of credit score, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators decided provide. However, following the flood associated with critical press comment the senators withdrew their assure. They now required Carl Borgward to pledge the company itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported in the still hostile media, Borgward agreed to the senate’s terms on some February 1961, thereby averting the bankruptcy of the business.The Bremen Senate also insisted on appointing a unique nominee as chairman of the company’s supervisory board. The man they select was Johannes Semler to whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice for the breadth of Semler’s occupation. He had studied rules at university and worked initially to be a lawyer. The scion of a number one Hamburg political family, in 1945 he received himself been a founding person in the centre-right CSU gathering, and was a member of the Bundestag between 1950 along with 1953. Despite his Hamburg roots, Semler was by on this occasion based in Munich, with a network of contacts within the Bavarian establishment that most likely included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position from the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators in order to chair the Borgward supervisory panel would, in retrospect, contribute to the debate that followed the Borgward personal bankruptcy.
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In 28 July 1961 Semler, as Chairman of this supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the company to continue to trade while at the same time protecting the interests of creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of his or her own, never had any intent of allowing the Borgward auto-businesses for you to survive.
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