Borgward is 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 generated four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the business's first new car throughout over 40 years, the BX7 at the 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business return to 1905 with the organization in nearby Varel on the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself involving "Namag", maker of the Lloyd car. 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 because of 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 your scope of his automobile business, and he took control than it.
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The initial "automobile" Carl Borgward intended was the 1924 Blitzkarren (turbo cart), a sort of very small three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success already in the market gap it filled. Traders with a small budget purchased for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the however three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Leader. Borgward turned his care about the other businesses and led the development with the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 in addition to in 1939 the identify was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from firms he had acquired in recent times to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business at any given time of austerity and rationing. For many purposes the companies would be run as being a single entity, but in a business operated by the man to whom delegation failed to come naturally the spreading of legal entities nevertheless added unhelpful layers of complexity over the 1950s and encouraged a broadening from the range which ultimately proved financially unsustainable while using sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of the 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 widely used model and remained in production to the life of the company. In 1960 the Borgward P100 seemed to be 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 learning to be a successful Formula Two power unit (that has been also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such while air suspension and programmed transmission, the company had trouble competing in the marketplace. While larger companies similar to Opel and VW took benefit from economies of scale in addition to kept their prices low to achieve market share, Borgward's cost structure was even above necessary for its size, as it basically operated as four tiny independent companies and never implemented such basic price reduction strategies as combined development and parts sharing between your company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced like a water-cooled boxer with top wheel drive, but plagued with problems for example water leakage and gearbox mistakes. Lloyd lost money on the car though it was more expensive in comparison with its direct competitors.In 1961, the company was required into liquidation by credit card companies. Carl Borgward died throughout July 1963, still insisting the company had been technically solvent. This proved to be true inside the sense that after this creditors were paid in full, there was still four. 5 million Marks left over from the business.
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Accounts of difficulties at Borgward surfaced in the article that appeared throughout Germany's leading news mag, “Der Spiegel” on 18 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 entry cover. It was strongly vital of Carl Borgward's enterprise approach, and included many of the arguments later advanced to explain or justify the business's demise. The widest range associated with cars from any maker in Germany, produced by three until recently operationally autonomous companies (Borgward, Goliath and Lloyd) seemed to be supporting a turnover regarding only 650 million Signifies, placing the overall sales value on the combined Borgward auto companies 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 of new and modified products featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") afforded 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 submit delivery warranty work that found their long ago to the company.The December 1960 Spiegel article was not the only serious open public criticism targeting Borgward presently: suddenly stridently negative (if 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 towards Borgward Group provided by the local Landesbank.It is apparent that this business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses like auto manufacturing use the expensive machines and tools most efficiently when they use them constantly with full capacity, but the car market in Europe from the 1950s/60s was more temporary than today, with sales diminishing within Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars right at the end of 1960 was above usual, reflecting ambitious growth ideas, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered because of the North American dealers in 1960 (and of the 12, 000 delivered to these people) 6, 000 might have being taken back following a slump in Us demand. (Borgward was not the only real European auto maker hit by way of North American slump successful for imported cars during 1960. In the same year two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the lender for a further just one million Marks of credit score, 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 regarding critical press comment the actual senators withdrew their promise. 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 the particular senate’s terms on 4 February 1961, thereby averting the bankruptcy in the business.The Bremen Senate furthermore insisted on appointing a unique nominee as chairman with the company’s supervisory board. The man they selected was Johannes Semler which reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice towards breadth of Semler’s vocation. He had studied legislation at university and worked initially as a lawyer. The scion of a leading Hamburg political family, in 1945 he got himself been a founding person in the centre-right CSU get together, and was a person in the Bundestag between 1950 and also 1953. Despite his Hamburg beginning, Semler was by these times based in Munich, with a network of contacts from the Bavarian establishment that likely included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position inside the Bizone. The appointment of Johannes Semler because representative of the Bremen senators in order to chair the Borgward supervisory mother board would, in retrospect, contribute to the dispute that followed the Borgward personal bankruptcy.
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In 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors from 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 company to continue to trade while at the same time protecting the interests regarding creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of her own, never had any intention of allowing the Borgward auto-businesses to help survive.
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