Borgward can be an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the actual 1960s. The Borgward group created four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's son, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the company's first new car throughout over 40 years, the BX7 at the particular 2015 International Motor Present.The origins of Bremen's most significant auto-business go back to 1905 with the place in nearby Varel of the "Hansa Automobilgesellschaft" and the foundation in Bremen itself involving "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and from the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand your scope of his car business, and he took control of computer.
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The initial "automobile" Carl Borgward made was the 1924 Blitzkarren (super cart), a sort of very small three-wheeled van with 3 hp (1. 5 kW), which was an enormous success already in the market gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the even now three wheeler timber presented synthetic leather bodied 5 or maybe 7 hp Goliath Founder. Borgward turned his attention to the other businesses and led the development with the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 as well as in 1939 the brand was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from organizations he had acquired through the years to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business during a period of austerity and rationing. For many purposes the businesses would be run to be a single entity, but in a business operated by way of man to whom delegation wouldn't come naturally the expansion of legal entities however added unhelpful layers of complexity through the 1950s and encouraged a broadening from the range which ultimately proved financially unsustainable while using the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of many top engineers at Borgward by 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 the life of the business. In 1960 the Borgward P100 has been 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 was also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such because air suspension and intelligent transmission, the company had trouble competing in the marketplace. While larger companies like Opel and VW took selling point of economies of scale along with kept their prices low to realize market share, Borgward's cost structure was even above necessary for its sizing, as it basically managed as four tiny independent companies and not implemented such basic cost reduction strategies as shared development and parts sharing between your company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced as being a water-cooled boxer with the front wheel drive, but plagued with problems including water leakage and gearbox mistakes. Lloyd lost money on the car although it was more expensive as compared to its direct competitors.In 1961, the company was pressured into liquidation by collectors. Carl Borgward died with July 1963, still insisting the company was technically solvent. This proved to be true inside the sense that after the creditors were paid in full, there was still 5. 5 million Marks left from the business.
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Studies of difficulties at Borgward surfaced in an article that appeared in Germany's leading news newspaper, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly vital of Carl Borgward's small business approach, and included many in the arguments later advanced to spell out or justify the company's demise. The widest range connected with cars from any manufacturer in Germany, produced by three right up until recently operationally autonomous firms (Borgward, Goliath and Lloyd) has been supporting a turnover connected with only 650 million Marks, placing the overall sales value in the combined Borgward auto companies only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation involving new and modified designs featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") provided rise to components which too much did not work, broke down or fell apart, resulting in massive expenses for pre-delivery remediation and/or article delivery warranty work that found their in the past to the company.The December 1960 Spiegel article hasn't been the only serious public criticism targeting Borgward at the moment: suddenly stridently negative (when more succinct) comments also turned up in the influential mass-market Bild newspaper and in television accounts. Critical media commentaries additionally appeared concerning large loans to the Borgward Group provided from the local Landesbank.It is apparent which the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses for instance auto manufacturing use their particular expensive machines and tools most efficiently when they use them constantly on full capacity, but the car market in Europe within the 1950s/60s was more periodic than today, with sales diminishing inside Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars towards the end of 1960 was beyond usual, reflecting ambitious growth strategies, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered with the North American dealers inside 1960 (and with the 12, 000 delivered to these individuals) 6, 000 might have to be taken back following a slump in American demand. (Borgward was not the only European auto maker hit by way of North American slump sought after for imported cars throughout 1960. In the same year two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached your banker for a further 1 million Marks of credit score, 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 of critical press comment your senators withdrew their promise. 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 a still hostile media, Borgward agreed to this senate’s terms on several February 1961, thereby averting the bankruptcy of the business.The Bremen Senate likewise insisted on appointing a unique nominee as chairman in the company’s supervisory board. The man they decided to go with was Johannes Semler whom reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice towards the breadth of Semler’s vocation. 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 party, and was a member of the Bundestag between 1950 along with 1953. Despite his Hamburg sources, Semler was by this time around based in Munich, with a network of contacts inside the Bavarian establishment that most likely included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position inside the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators to be able to chair the Borgward supervisory panel would, in retrospect, contribute to the dispute that followed the Borgward individual bankruptcy.
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On 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 for that establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling the organization to continue to trade while while doing so protecting the interests involving creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November through 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 help survive.
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