Borgward is surely an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen within 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 son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the businesses first new car in over 40 years, the BX7 at the particular 2015 International Motor Display.The origins of Bremen's most significant auto-business go back to 1905 with the business 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 the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and because of the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand your scope of his vehicle 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 small three-wheeled van with two hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered some of them for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the however three wheeler timber framed synthetic leather bodied 5 or 7 hp Goliath Founder. Borgward turned his awareness of the other businesses as well as led the development with the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 in addition to in 1939 the name was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from firms he had acquired over the years to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business at the same time of austerity and rationing. For many purposes nokia's would be run to be a single entity, but in a business operated by a man to whom delegation wouldn't come naturally the proliferation of legal entities nonetheless added unhelpful layers of complexity through the 1950s and encouraged a broadening of the range which ultimately proved financially unsustainable with all the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.On the list of top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's most in-demand model and remained in production with the life of the corporation. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that has been also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such because air suspension and computerized transmission, the company had trouble competing available. While larger companies similar to Opel and VW took benefit from economies of scale and kept their prices low to realize market share, Borgward's cost structure was even greater than necessary for its sizing, as it basically controlled as four tiny independent companies and don't implemented such basic cost 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 as a water-cooled boxer with top wheel drive, but plagued with problems for example water leakage and gearbox errors. Lloyd lost money on the car even though it was more expensive compared to its direct competitors.In 1961, the company was pushed into liquidation by credit card companies. Carl Borgward died throughout July 1963, still insisting the company were being technically solvent. This proved to be true within the sense that after the particular creditors were paid completely, there was still four. 5 million Marks remaining from the business.
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Accounts of difficulties at Borgward surfaced in an article that appeared throughout Germany's leading news newspaper, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly vital of Carl Borgward's company approach, and included many of the arguments later advanced to spell out or justify the business's demise. The widest range regarding cars from any supplier in Germany, produced by three until finally recently operationally autonomous corporations (Borgward, Goliath and Lloyd) ended up being supporting a turnover involving only 650 million Scars, placing the overall sales value from the combined Borgward auto organizations only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation involving new and modified versions featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") offered rise to components which too much did not work, broke down or fell into apart, resulting in massive payments for pre-delivery remediation and/or post delivery warranty work that found their in the past to the company.The December 1960 Spiegel article wasn't the only serious open public criticism targeting Borgward currently: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild classifieds and in television stories. Critical media commentaries also appeared concerning large loans on the Borgward Group provided by the local Landesbank.It is apparent that the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses for example auto manufacturing use their own expensive machines and tools most efficiently if they use them constantly at full capacity, but the car market in Europe in the 1950s/60s was more temporary than today, with sales diminishing with Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars by the end of 1960 was more than usual, reflecting ambitious growth programs, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered with the North American dealers in 1960 (and from the 12, 000 delivered to these people) 6, 000 might have for being taken back following a slump in Us demand. (Borgward was not the only European auto maker hit by way of a North American slump sought after for imported cars in the course of 1960. In the same 12 months two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in Big apple were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the financial institution for a further one million Marks of credit history, the loan to be backed by a guarantee from the Bremen regional government which initially the Bremen senators decided to provide. However, following the flood of critical press comment this senators withdrew their guarantee. They now required Carl Borgward to pledge the business itself to the state in return 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 in the business.The Bremen Senate also insisted on appointing a nominee as chairman on the company’s supervisory board. The man they select was Johannes Semler with whom reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice on the breadth of Semler’s career. He had studied rules at university and worked initially being a lawyer. The scion of a respected Hamburg political family, in 1945 he had himself been a founding member of the centre-right CSU gathering, and was a person in the Bundestag between 1950 along with 1953. Despite his Hamburg origins, Semler was by this time around based in Munich, with a network of contacts inside the Bavarian establishment that probably included fellow CSU politician plus 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 representative of the Bremen senators to chair the Borgward supervisory table would, in retrospect, contribute to the debate that followed the Borgward personal bankruptcy.
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About 28 July 1961 Semler, as Chairman of your supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling the company to continue to trade while concurrently protecting the interests connected with creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his own, never had any intention of allowing the Borgward auto-businesses to survive.
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