Borgward can be an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in your 1960s. The Borgward group created four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grandson, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from China investment, and unveiled the business's first new car within over 40 years, the BX7 at your 2015 International Motor Show.The origins of Bremen's most significant auto-business return to 1905 with the institution in nearby Varel on 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 make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economic situation then confronting Germany, the business failed to prosper and from the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand the actual scope of his vehicle business, and he took control from it.
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The first "automobile" Carl Borgward intended was the 1924 Blitzkarren (lightning cart), a sort of very small three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success on the market gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered quite a few 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 chances are evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 or maybe 7 hp Goliath Master. Borgward turned his care about the other businesses and led the development of the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 along with in 1939 the brand was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from firms he had acquired over time to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business at a time of austerity and rationing. For many purposes the lenders would be run like a single entity, but in a business operated by way of man to whom delegation wouldn't come naturally the proliferation of legal entities nevertheless added unhelpful layers of complexity over the 1950s and encouraged a broadening on the range which ultimately proved financially unsustainable while using sales volumes achievable. In 1949 company presented 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 begun in 1954. The Isabella would become Borgward's hottest model and remained in production for the life of the company. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers in the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that was also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such because air suspension and computerized transmission, the company had trouble competing available on the market. While larger companies including Opel and VW took advantage of economies of scale along with kept their prices low to get market share, Borgward's cost structure was even more than necessary for its measurement, as it basically operated as four tiny independent companies and don't implemented such basic charge reduction strategies as shared development and parts sharing between the company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced like a water-cooled boxer with front wheel drive, but plagued with problems for instance water leakage and gearbox mistakes. Lloyd lost money on the car just about the most was more expensive as compared to its direct competitors.In 1961, the company was pushed into liquidation by lenders. Carl Borgward died in July 1963, still insisting the company were being technically solvent. This proved to be true inside the sense that after the particular creditors were paid fully, there was still several. 5 million Marks remaining from the business.
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Reports of difficulties at Borgward surfaced within the article that appeared in Germany's leading news newspaper, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted by way 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 in the arguments later advanced to explain or justify the firm's demise. The widest range regarding cars from any company in Germany, produced by three right up until recently operationally autonomous companies (Borgward, Goliath and Lloyd) seemed to be supporting a turnover of only 650 million Marks, placing the overall sales value from the combined Borgward auto corporations only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation regarding new and modified types featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") offered rise to components which excessively did not work, broke down or chop down apart, resulting in massive bills for pre-delivery remediation and/or article delivery warranty work that found their made use of to the company.The December 1960 Spiegel article wasn't the only serious open public criticism targeting Borgward right now: suddenly stridently negative (in the event more succinct) comments also resulted in in the influential mass-market Bild newspaper and in television accounts. Critical media commentaries additionally appeared concerning large loans on the Borgward Group provided by the local Landesbank.It is apparent that the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses for instance auto manufacturing use the expensive machines and tools most efficiently whenever they use them constantly on full capacity, but the car market in Europe in the 1950s/60s was more periodic than today, with sales diminishing with Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars towards the end of 1960 was above usual, reflecting ambitious growth options, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered from the North American dealers within 1960 (and in the 12, 000 delivered to these individuals) 6, 000 might have to become taken back following a slump in Us demand. (Borgward was not the sole European auto maker hit by the North American slump sought after for imported cars throughout 1960. In the same year 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 bank for a further one particular million Marks of credit ratings, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators opted for provide. However, following the flood of critical press comment the actual senators withdrew their ensure. 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 within a still hostile media, Borgward agreed to your senate’s terms on several February 1961, thereby averting the bankruptcy in the business.The Bremen Senate also insisted on appointing its own nominee as chairman from the company’s supervisory board. The man they select was Johannes Semler to whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice to the breadth of Semler’s occupation. He had studied legislation at university and worked initially to be a lawyer. The scion of a leading Hamburg political family, in 1945 he experienced himself been a founding member of the centre-right CSU party, and was a member of the Bundestag between 1950 along with 1953. Despite his Hamburg origins, Semler was by now based in Munich, with a network of contacts within the Bavarian establishment that probably included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position inside the Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators in order to chair the Borgward supervisory board would, in retrospect, contribute to the controversy that followed the Borgward personal bankruptcy.
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With 28 July 1961 Semler, as Chairman of the particular 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 a court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while at the same time protecting the interests regarding creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of their own, never had any purpose of allowing the Borgward auto-businesses in order to survive.
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