Borgward is usually an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in your 1960s. The Borgward group created four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's grandson, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from China investment, and unveiled the company's first new car in over 40 years, the BX7 at this 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business get back on 1905 with the business in nearby Varel from the "Hansa Automobilgesellschaft" and the muse in Bremen itself connected with "Namag", maker of the Lloyd auto. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and through the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand the scope of his auto business, and he took control of computer.
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The first "automobile" Carl Borgward made was the 1924 Blitzkarren (turbo cart), a sort of tiny three-wheeled van with 3 hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget got it 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 & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 or perhaps 7 hp Goliath Pioneer. Borgward turned his focus on the other businesses and also led the development in the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and in 1939 the label was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from companies he had acquired in recent times to found three different 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 companies would be run as being a single entity, but in a business operated by way of a man to whom delegation didn't come naturally the expansion of legal entities however added unhelpful layers of complexity over the 1950s and encouraged a broadening from the range which in the long run proved financially unsustainable while using sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.Among the top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most favored model and remained in production for the life of the business. In 1960 the Borgward P100 had 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 transforming into a successful Formula Two power unit (that has been also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such while air suspension and automated transmission, the company had trouble competing available on the market. While larger companies just like Opel and VW took selling point of economies of scale and kept their prices low to get market share, Borgward's cost structure was even more than necessary for its dimension, as it basically managed as four tiny independent companies and don't implemented such basic price reduction strategies as mutual development and parts sharing between your company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced like a water-cooled boxer with entry wheel drive, but plagued with problems for instance water leakage and gearbox secrets. Lloyd lost money on the car just about the most was more expensive compared to its direct competitors.In 1961, the company was pushed into liquidation by collectors. Carl Borgward died with July 1963, still insisting the company was technically solvent. This proved to be true within the sense that after this creditors were paid in full, there was still several. 5 million Marks remaining from the business.
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Stories of difficulties at Borgward surfaced in a article that appeared within Germany's leading news newspaper, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly crucial of Carl Borgward's company approach, and included many on the arguments later advanced to describe or justify the firm's demise. The widest range involving cars from any company in Germany, produced by three until eventually recently operationally autonomous companies (Borgward, Goliath and Lloyd) was supporting a turnover regarding only 650 million Signifies, placing the overall sales value from the combined Borgward auto firms only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation involving new and modified versions featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") afforded rise to components which many times did not work, broke down or droped apart, resulting in massive payments for pre-delivery remediation and/or post delivery warranty work that found their way back to the company.The December 1960 Spiegel article wasn't the only serious open criticism targeting Borgward at this time: suddenly stridently negative (in the event more succinct) comments also turned up in the influential mass-market Bild classifieds and in television reports. Critical media commentaries likewise appeared concerning large loans on the Borgward Group provided from the local Landesbank.It is apparent the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses like auto manufacturing use his or her expensive machines and tools most efficiently whenever they use them constantly at full capacity, but the car market in Europe within the 1950s/60s was more periodic 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 programs, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered through the North American dealers in 1960 (and in the 12, 000 delivered to these individuals) 6, 000 might have being taken back following a slump in American demand. (Borgward was not the only real European auto maker hit by the North American slump popular for imported cars throughout 1960. In the same 12 months two ships carrying Renault Dauphines were turned back 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 your banker for a further one million Marks of credit ratings, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators consented to provide. However, following the flood associated with critical press comment the actual senators withdrew their promise. They now required Carl Borgward to pledge the corporation itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported within a still hostile media, Borgward agreed to the particular senate’s terms on some February 1961, thereby averting the bankruptcy in the business.The Bremen Senate likewise insisted on appointing its nominee as chairman on the company’s supervisory board. The man they select was Johannes Semler whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice towards the breadth of Semler’s career. He had studied regulation at university and worked initially as being a lawyer. The scion of a top 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 and also 1953. Despite his Hamburg origins, Semler was by this time based in Munich, with a network of contacts from the Bavarian establishment that possibly included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position inside Bizone. The appointment of Johannes Semler because the representative of the Bremen senators to chair the Borgward supervisory board 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 on the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the organization to continue to trade while simultaneously protecting the interests regarding creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his own, never had any intent of allowing the Borgward auto-businesses to be able to survive.
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