Borgward is an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen in 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 grand son, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the firm's first new car inside over 40 years, the BX7 at this 2015 International Motor Present.The origins of Bremen's most significant auto-business get back to 1905 with the institution in nearby Varel in the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself of "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and with 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 an opportunity greatly to expand the scope of his vehicle business, and he took control of the usb ports.
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The 1st "automobile" Carl Borgward developed was the 1924 Blitzkarren (super cart), a sort of small three-wheeled van with two 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 some of them for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the nonetheless three wheeler timber presented synthetic leather bodied 5 as well as 7 hp Goliath Founder. Borgward turned his care about the other businesses and led the development in the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 along with in 1939 the name was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from organizations he had acquired over the years to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business at a time of austerity and rationing. For many purposes the lenders would be run being a single entity, but in a business operated with a man to whom delegation did not come naturally the expansion of legal entities even so added unhelpful layers of complexity with the 1950s and encouraged a broadening with the range which in the end proved financially unsustainable with all the sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.On the list of top engineers at Borgward coming from 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 corporation. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (that was also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such because air suspension and programmed transmission, the company had trouble competing available. While larger companies including Opel and VW took benefit of economies of scale in addition to kept their prices low to get market share, Borgward's cost structure was even greater than necessary for its dimension, as it basically controlled as four tiny independent companies and do not implemented such basic expense reduction strategies as joint development and parts sharing relating to the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced as a water-cooled boxer with the front wheel drive, but plagued with problems for instance water leakage and gearbox secrets. Lloyd lost money on the car community . was more expensive compared to its direct competitors.In 1961, the company was forced into liquidation by creditors. Carl Borgward died inside July 1963, still insisting the company were being technically solvent. This proved to be true within the sense that after your creditors were paid 100 %, there was still 5. 5 million Marks left over from the business.
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Accounts of difficulties at Borgward surfaced in a article that appeared throughout Germany's leading news newspaper, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly critical of Carl Borgward's business approach, and included many in the arguments later advanced to explain or justify the business's demise. The widest range involving cars from any supplier in Germany, produced by three until eventually recently operationally autonomous organizations (Borgward, Goliath and Lloyd) seemed to be supporting a turnover connected with only 650 million Scars, placing the overall sales value in the combined Borgward auto organizations only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation connected with new and modified types featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") provided rise to components which all too often did not work, broke down or fell into apart, resulting in massive bills for pre-delivery remediation and/or post delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article wasn't the only serious open public criticism targeting Borgward at this time: suddenly stridently negative (in the event that more succinct) comments also resulted in in the influential mass-market Bild newspaper and in television stories. Critical media commentaries in addition appeared concerning large loans on the Borgward Group provided with the local Landesbank.It is apparent the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses for instance auto manufacturing use his or her expensive machines and tools most efficiently whenever they use them constantly on full capacity, but the car market in Europe inside the 1950s/60s was more periodic than today, with sales diminishing with 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 north america market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered from the North American dealers with 1960 (and on the 12, 000 delivered to these) 6, 000 might have to be taken back following a slump in North american demand. (Borgward was not the only real European auto maker hit with a North American slump popular for imported cars during 1960. In the same calendar year two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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At the conclusion of December 1960 Borgward approached the bank for a further just one million Marks of credit rating, the loan to be backed by a guarantee from the Bremen local government which initially the Bremen senators decided provide. However, following the flood involving critical press comment the actual senators withdrew their assure. 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 actual senate’s terms on some February 1961, thereby averting the bankruptcy on the business.The Bremen Senate additionally insisted on appointing its nominee as chairman in the company’s supervisory board. The man they select was Johannes Semler to whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice towards breadth of Semler’s job. He had studied legislation at university and worked initially as being a lawyer. The scion of a leading Hamburg political family, in 1945 he received himself been a founding person in the centre-right CSU party, and was a person in the Bundestag between 1950 along with 1953. Despite his Hamburg beginnings, Semler was by now based in Munich, with a network of contacts within the Bavarian establishment that almost certainly included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position in the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators for you to chair the Borgward supervisory panel would, in retrospect, contribute to the controversy that followed the Borgward chapter 7.
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About 28 July 1961 Semler, as Chairman of this supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while concurrently protecting the interests of creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of his own, never had any intent of allowing the Borgward auto-businesses for you to survive.
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