Borgward can be 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 produced four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grand son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the business's first new car within over 40 years, the BX7 at the actual 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business get back to 1905 with the place in nearby Varel with the "Hansa Automobilgesellschaft" and the muse in Bremen itself regarding "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economy then confronting Germany, the business failed to prosper and from the late 1920s faced chapter 7. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the scope of his automotive business, and he took control of it.
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The primary "automobile" Carl Borgward made was the 1924 Blitzkarren (lightning cart), a sort of teeny three-wheeled van with only two hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget bought 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 & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the still three wheeler timber presented synthetic leather bodied 5 or even 7 hp Goliath Pioneer. Borgward turned his care about the other businesses and led the development from the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 as well as in 1939 the title was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from organizations he had acquired in the past to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business each time of austerity and rationing. For many purposes the companies would be run being a single entity, but in a business operated by way of man to whom delegation would not come naturally the proliferation of legal entities even so added unhelpful layers of complexity over the 1950s and encouraged a broadening on the range which ultimately proved financially unsustainable with all the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of the 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 popular model and remained in production for your life of the company. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these learning to be a successful Formula Two power unit (which was also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such since air suspension and automated transmission, the company had trouble competing in the marketplace. While larger companies similar to Opel and VW took selling point of economies of scale as well as kept their prices low to achieve market share, Borgward's cost structure was even more than necessary for its size, as it basically operated as four tiny independent companies and don't implemented such basic cost 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 as being a water-cooled boxer with front wheel drive, but plagued with problems such as water leakage and gearbox errors. Lloyd lost money on the car though it was more expensive as compared to its direct competitors.In 1961, the company was pressured into liquidation by lenders. Carl Borgward died within July 1963, still insisting the company have been technically solvent. This proved to be true from the sense that after the creditors were paid 100 %, 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 magazine, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly essential of Carl Borgward's organization approach, and included many with the arguments later advanced to go into detail or justify the businesses demise. The widest range connected with cars from any manufacturer in Germany, produced by three until finally recently operationally autonomous businesses (Borgward, Goliath and Lloyd) ended up being supporting a turnover involving only 650 million Marks, placing the overall sales value on the combined Borgward auto corporations only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation associated with new and modified types featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") gave rise to components which too much did not work, broke down or fell apart, resulting in massive bills for pre-delivery remediation and/or write-up delivery warranty work that found their way back to the company.The December 1960 Spiegel article wasn't the only serious public criticism targeting Borgward at this time: suddenly stridently negative (when more succinct) comments also turned up in the influential mass-market Bild newspaper and in television accounts. Critical media commentaries in addition appeared concerning large loans towards Borgward Group provided with the local Landesbank.It is apparent that the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses for example auto manufacturing use their particular expensive machines and tools most efficiently whenever they use them constantly from full capacity, but the car market in Europe within the 1950s/60s was more in season than today, with sales diminishing within Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars at the end of 1960 was higher than usual, reflecting ambitious growth options, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered because of the North American dealers in 1960 (and from the 12, 000 delivered to these people) 6, 000 might have to get taken back following a slump in United states demand. (Borgward was not the one European auto maker hit by way of a North American slump widely used for imported cars through 1960. In the same yr two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached the financial institution for a further 1 million Marks of credit rating, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators opted for provide. However, following the flood regarding critical press comment the senators withdrew their promise. They now required Carl Borgward to pledge the company 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 several February 1961, thereby averting the bankruptcy with the business.The Bremen Senate additionally insisted on appointing its nominee as chairman with the company’s supervisory board. The man they decided to go with was Johannes Semler whom reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice towards the breadth of Semler’s occupation. He had studied rules at university and worked initially as being a lawyer. The scion of a top Hamburg political family, in 1945 he experienced himself been a founding person in the centre-right CSU gathering, and was a member of the Bundestag between 1950 and 1953. Despite his Hamburg origins, Semler was by this time around based in Munich, with a network of contacts from the Bavarian establishment that possibly included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position within the Bizone. The appointment of Johannes Semler because representative of the Bremen senators for you to chair the Borgward supervisory board would, in retrospect, contribute to the dispute that followed the Borgward individual bankruptcy.
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In 28 July 1961 Semler, as Chairman of the supervisory board joined the directors with 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 organization to continue to trade while simultaneously protecting the interests connected with creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath businesses 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 intent of allowing the Borgward auto-businesses to help survive.
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