Borgward can be an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in the particular 1960s. The Borgward group made 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 Chinese investment, and unveiled the business's first new car in over 40 years, the BX7 at your 2015 International Motor Indicate.The origins of Bremen's most significant auto-business get back to 1905 with the establishment in nearby Varel with the "Hansa Automobilgesellschaft" and the muse in Bremen itself connected with "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economy then confronting Germany, the business failed to prosper and because of the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand the particular scope of his auto business, and he took control from it.
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The very first "automobile" Carl Borgward created was the 1924 Blitzkarren (turbo cart), a sort of teeny three-wheeled van with only two hp (1. 5 kW), which was an enormous success already 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 director of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the however three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Leader. Borgward turned his focus on the other businesses in addition to led the development with the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 along with in 1939 the title 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 lot of the brand names from organizations he had acquired over the years to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business each time of austerity and rationing. For many purposes the firms would be run being a single entity, but in a business operated by way of man to whom delegation didn't come naturally the expansion of legal entities however added unhelpful layers of complexity through the 1950s and encouraged a broadening of the range which in the end proved financially unsustainable using the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.One of the top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most in-demand model and remained in production for the life of the company. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (which has been also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such as air suspension and computerized transmission, the company had trouble competing available on the market. While larger companies just like Opel and VW took good thing about economies of scale as well as kept their prices low to gain market share, Borgward's cost structure was even beyond necessary for its size, as it basically operated as four tiny independent companies rather than implemented such basic price reduction strategies as joint development and parts sharing between your company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced like a water-cooled boxer with front wheel drive, but plagued with problems like water leakage and gearbox errors. Lloyd lost money on the car although it was more expensive as compared to its direct competitors.In 1961, the company was pushed into liquidation by collectors. Carl Borgward died within July 1963, still insisting the company had been technically solvent. This proved to be true within the sense that after the particular creditors were paid fully, there was still 5. 5 million Marks left over from the business.
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Accounts of difficulties at Borgward surfaced in the article that appeared throughout Germany's leading news newspaper, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly important of Carl Borgward's company approach, and included many on the arguments later advanced to spell out or justify the businesses demise. The widest range involving cars from any company in Germany, produced by three till recently operationally autonomous organizations (Borgward, Goliath and Lloyd) had been supporting a turnover involving only 650 million Signifies, placing the overall sales value in the combined Borgward auto corporations only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation connected with new and modified products featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") afforded rise to components which too much did not work, broke down or droped apart, resulting in massive bills for pre-delivery remediation and/or article delivery warranty work that found their long ago to the company.The December 1960 Spiegel article was not the only serious general public criticism targeting Borgward presently: suddenly stridently negative (when more succinct) comments also turned up in the influential mass-market Bild magazine and in television reports. Critical media commentaries in addition appeared concerning large loans to the Borgward Group provided by the local Landesbank.It is apparent which the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses for example auto manufacturing use his or her expensive machines and tools most efficiently as long as they use them constantly on full capacity, but the car market in Europe inside 1950s/60s was more temporary than today, with sales diminishing throughout Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was higher than usual, reflecting ambitious growth strategies, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered from the North American dealers inside 1960 (and of the 12, 000 delivered to them) 6, 000 might have to be taken back following a slump in American demand. (Borgward was not the only European auto maker hit with a North American slump in demand for imported cars throughout 1960. In the same year two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached the bank for a further one million Marks of credit rating, the loan to be backed by the guarantee from the Bremen local government which initially the Bremen senators opted for provide. However, following the flood involving critical press comment the senators withdrew their guarantee. 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 inside a still hostile media, Borgward agreed to the senate’s terms on 4 February 1961, thereby averting the bankruptcy from the business.The Bremen Senate additionally insisted on appointing its very own 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 into English, does less than full justice to the breadth of Semler’s occupation. He had studied regulation at university and worked initially being a lawyer. The scion of a respected Hamburg political family, in 1945 he got himself been a founding person in the centre-right CSU bash, and was a person in the Bundestag between 1950 and 1953. Despite his Hamburg sources, Semler was by these times based in Munich, with a network of contacts inside Bavarian establishment that probably included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position inside the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators to be able to chair the Borgward supervisory board would, in retrospect, contribute to the debate that followed the Borgward a bankruptcy proceeding.
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Upon 28 July 1961 Semler, as Chairman of your supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the business to continue to trade while at the same time protecting the interests associated with creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of their own, never had any objective of allowing the Borgward auto-businesses for you to survive.
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