Borgward can be an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in your 1960s. The Borgward group made four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grandson, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the corporation's first new car in over 40 years, the BX7 at the 2015 International Motor Indicate.The origins of Bremen's most significant auto-business resume 1905 with the organization in nearby Varel with the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself associated with "Namag", maker of the Lloyd car. These two businesses merged in 1914 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 because of the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand the scope of his automotive business, and he took control of computer.
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The very first "automobile" Carl Borgward designed was the 1924 Blitzkarren (lightning cart), a sort of small three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget purchased for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the director 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 maybe 7 hp Goliath Leader. Borgward turned his focus on the other businesses as well as led the development on the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 along with in 1939 the label was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from businesses 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 during a period of austerity and rationing. For many purposes nokia's would be run to be a single entity, but in a business operated by the man to whom delegation didn't come naturally the spreading of legal entities however added unhelpful layers of complexity with the 1950s and encouraged a broadening on the range which finally proved financially unsustainable while using the sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.On the list of top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's hottest model and remained in production to the life of the company. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers inside late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (which was also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such as air suspension and automated transmission, the company had trouble competing available on the market. While larger companies similar to Opel and VW took benefit of economies of scale as well as kept their prices low to find market share, Borgward's cost structure was even above necessary for its size, as it basically operated as four tiny independent companies and do not implemented such basic cost reduction strategies as shared development and parts sharing between your company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced as being a water-cooled boxer with front wheel drive, but plagued with problems such as water leakage and gearbox mistakes. Lloyd lost money on the car even though it was more expensive in comparison with its direct competitors.In 1961, the company was pushed into liquidation by credit card companies. Carl Borgward died throughout July 1963, still insisting the company have been technically solvent. This proved to be true inside the sense that after the particular creditors were paid completely, there was still four. 5 million Marks left over from the business.
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Stories of difficulties at Borgward surfaced in the article that appeared with Germany's leading news publication, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly critical of Carl Borgward's company approach, and included many with the arguments later advanced to go into detail or justify the corporation's demise. The widest range of cars from any maker in Germany, produced by three until finally recently operationally autonomous organizations (Borgward, Goliath and Lloyd) was supporting a turnover of only 650 million Signifies, placing the overall sales value from your combined Borgward auto corporations only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation involving new and modified designs featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") afforded rise to components which too often did not work, broke down or fell apart, resulting in massive bills for pre-delivery remediation and/or post delivery warranty work that found their in the past to the company.The December 1960 Spiegel article had not been the only serious general public criticism targeting Borgward at this time: suddenly stridently negative (in case more succinct) comments also turned up in the influential mass-market Bild newspapers and in television reports. Critical media commentaries also appeared concerning large loans to the Borgward Group provided because of the local Landesbank.It is apparent how the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses such as auto manufacturing use their expensive machines and tools most efficiently should they use them constantly from full capacity, but the car market in Europe inside the 1950s/60s was more seasonal than today, with sales diminishing inside Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars towards 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 on the 15, 000 Borgward cars ordered by the North American dealers inside 1960 (and with the 12, 000 delivered to these people) 6, 000 might have to be taken back following a slump in American demand. (Borgward was not really the only European auto maker hit by way of a North American slump in demand for imported cars during 1960. In the same season two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached the financial institution for a further one particular million Marks of credit score, the loan to be backed by way of a guarantee from the Bremen regional government which initially the Bremen senators consented to provide. However, following the flood connected with critical press comment your 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 in the still hostile media, Borgward agreed to the actual senate’s terms on 5 February 1961, thereby averting the bankruptcy from the business.The Bremen Senate likewise insisted on appointing its nominee as chairman in the company’s supervisory board. The man they select was Johannes Semler which reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice to the breadth of Semler’s job. He had studied law at university and worked initially to be a lawyer. The scion of a top Hamburg political family, in 1945 he acquired himself been a founding member of the centre-right CSU gathering, and was a person in the Bundestag between 1950 and also 1953. Despite his Hamburg sources, Semler was by this time around based in Munich, with a network of contacts in the Bavarian establishment that likely included fellow CSU politician and also 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 because the representative of the Bremen senators to help chair the Borgward supervisory mother board would, in retrospect, contribute to the conflict that followed the Borgward chapter 7.
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In 28 July 1961 Semler, as Chairman of the actual 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 the court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while as well protecting the interests involving creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of his very own, never had any intention of allowing the Borgward auto-businesses to survive.
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