Borgward is usually an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in the 1960s. The Borgward group developed four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's grandson, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the company's first new car throughout over 40 years, the BX7 at the actual 2015 International Motor Present.The origins of Bremen's most significant auto-business get back on 1905 with the place in nearby Varel from the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself connected with "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to make 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 the opportunity greatly to expand this scope of his automobile business, and he took control of it.
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The initial "automobile" Carl Borgward created was the 1924 Blitzkarren (turbo cart), a sort of small three-wheeled van with a couple of 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 many for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the however three wheeler timber presented synthetic leather bodied 5 or perhaps 7 hp Goliath Master. Borgward turned his focus on the other businesses along with led the development from the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 in addition to in 1939 the title was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from organizations he had acquired in recent times to found three separate 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 lenders would be run to be a single entity, but in a business operated by way of a man to whom delegation wouldn't come naturally the proliferation of legal entities however added unhelpful layers of complexity throughout the 1950s and encouraged a broadening from the range which ultimately proved financially unsustainable using the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.On the list of top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella commenced in 1954. The Isabella would become Borgward's most popular model and remained in production with the life of the business. 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 (that was also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such while air suspension and computerized transmission, the company had trouble competing in the market. While larger companies including Opel and VW took benefit from economies of scale and kept their prices low to get market share, Borgward's cost structure was even more than necessary for its dimensions, as it basically handled as four tiny independent companies rather than implemented such basic cost reduction strategies as articulation development and parts sharing between company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced to be a water-cooled boxer with top 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 compared to its direct competitors.In 1961, the company was compelled into liquidation by creditors. Carl Borgward died within July 1963, still insisting the company ended up technically solvent. This proved to be true from the sense that after the actual creditors were paid 100 %, there was still several. 5 million Marks left over from the business.
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Accounts of difficulties at Borgward surfaced within the article that appeared inside Germany's leading news mag, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted through 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 from the arguments later advanced to spellout or justify the business's demise. The widest range associated with cars from any manufacturer in Germany, produced by three right up until recently operationally autonomous corporations (Borgward, Goliath and Lloyd) was supporting a turnover of only 650 million Represents, placing the overall sales value through the combined Borgward auto businesses only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation associated with new and modified products featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") presented rise to components which many times did not work, broke down or fell into apart, resulting in massive charges for pre-delivery remediation and/or publish delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article wasn't the only serious public criticism targeting Borgward right now: suddenly stridently negative (in the event more succinct) comments also turned up in the influential mass-market Bild classifieds and in television stories. Critical media commentaries in addition appeared concerning large loans to the Borgward Group provided because of the local Landesbank.It is apparent that the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses like auto manufacturing use their own expensive machines and tools most efficiently whenever they use them constantly at full capacity, but the car market in Europe from the 1950s/60s was more seasonal than today, with sales diminishing inside Winter, then peaking in early summer months: Borgward’s inventory of unsold cars by the end of 1960 was more than usual, reflecting ambitious growth options, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered by the North American dealers in 1960 (and in the 12, 000 delivered to these individuals) 6, 000 might have to become taken back following a slump in North american demand. (Borgward was not the sole European auto maker hit by way of a North American slump widely used for imported cars in the course of 1960. In the same yr two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached the financial institution for a further a single million Marks of credit rating, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators consented to provide. However, following the flood involving critical press comment the actual senators withdrew their promise. They now required Carl Borgward to pledge the corporation itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in a very still hostile media, Borgward agreed to the particular senate’s terms on four February 1961, thereby averting the bankruptcy of the business.The Bremen Senate furthermore insisted on appointing its nominee as chairman with the company’s supervisory board. The man they selected was Johannes Semler with whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice for the breadth of Semler’s occupation. He had studied legislation at university and worked initially as a lawyer. The scion of a respected Hamburg political family, in 1945 he had himself been a founding person in the centre-right CSU bash, and was a person in 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 from the Bavarian establishment that almost certainly 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 to be able to chair the Borgward supervisory panel would, in retrospect, contribute to the controversy that followed the Borgward individual bankruptcy.
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In 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors of 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 as well protecting the interests involving creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of his own, never had any intention of allowing the Borgward auto-businesses to be able to survive.
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