Borgward is an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in this 1960s. The Borgward group developed four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grandson, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the company's first new car within over 40 years, the BX7 at the 2015 International Motor Display.The origins of Bremen's most significant auto-business resume 1905 with the business in nearby Varel of the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself connected with "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and with the late 1920s faced chapter 7. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility 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 designed was the 1924 Blitzkarren (turbo cart), a sort of very small three-wheeled van with only two hp (1. 5 kW), which was an enormous success already in 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 overseer of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the however three wheeler timber presented synthetic leather bodied 5 as well as 7 hp Goliath Pioneer. Borgward turned his care about the other businesses and also led the development in the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 along with in 1939 the title was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from businesses he had acquired in the past to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business at the same time of austerity and rationing. For many purposes the businesses would be run as being a single entity, but in a business operated by way of man to whom delegation didn't come naturally the growth of legal entities nonetheless added unhelpful layers of complexity with the 1950s and encouraged a broadening of the range which finally proved financially unsustainable with the sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.Among the top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most favored model and remained in production for your life of the company. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a type 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 several F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such since air suspension and programmed transmission, the company had trouble competing in the marketplace. While larger companies including Opel and VW took advantage of economies of scale and also kept their prices low to find market share, Borgward's cost structure was even more than necessary for its dimensions, as it basically run as four tiny independent companies and not implemented such basic price reduction strategies as combined development and parts sharing involving the company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced as a water-cooled boxer with front wheel drive, but plagued with problems such as water leakage and gearbox errors. Lloyd lost money on the car though it was more expensive compared to its direct competitors.In 1961, the company was forced into liquidation by credit card companies. Carl Borgward died within July 1963, still insisting the company have been technically solvent. This proved to be true from the sense that after the actual creditors were paid completely, there was still 4. 5 million Marks remaining from the business.
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Reports of difficulties at Borgward surfaced in the article that appeared inside Germany's leading news magazine, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly essential of Carl Borgward's business approach, and included many on the arguments later advanced to explain or justify the firm's demise. The widest range associated with cars from any manufacturer in Germany, produced by three till recently operationally autonomous corporations (Borgward, Goliath and Lloyd) seemed to be supporting a turnover involving only 650 million Grades, placing the overall sales value through the combined Borgward auto organizations only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation of new and modified models featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") provided rise to components which too often did not work, broke down or fell apart, resulting in massive costs for pre-delivery remediation and/or post delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article was not the only serious general public criticism targeting Borgward at this time: suddenly stridently negative (in the event that more succinct) comments also turned up in the influential mass-market Bild newspapers and in television accounts. Critical media commentaries likewise appeared concerning large loans on the Borgward Group provided because of the local Landesbank.It is apparent which the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses including auto manufacturing use his or her expensive machines and tools most efficiently when they use them constantly on full capacity, but the car market in Europe from the 1950s/60s was more in season than today, with sales diminishing inside Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars right at the end of 1960 was greater than usual, reflecting ambitious growth ideas, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered by the North American dealers within 1960 (and from the 12, 000 delivered to these) 6, 000 might have for being taken back following a slump in United states demand. (Borgward was not the only real 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 mid-Atlantic because the docks in Big apple were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached the bank for a further one million Marks of credit ratings, the loan to be backed with a guarantee from the Bremen regional government which initially the Bremen senators decided to provide. However, following the flood regarding critical press comment the actual senators withdrew their guarantee. They now required Carl Borgward to pledge this company 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 the particular senate’s terms on some February 1961, thereby averting the bankruptcy of the business.The Bremen Senate furthermore insisted on appointing a nominee as chairman in the company’s supervisory board. The man they chose was Johannes Semler who reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice for the breadth of Semler’s career. He had studied rules at university and worked initially like a lawyer. The scion of a top Hamburg political family, in 1945 he had himself been a founding person in the centre-right CSU get together, and was a member of the Bundestag between 1950 in addition to 1953. Despite his Hamburg sources, Semler was by this time around based in Munich, with a network of contacts from the Bavarian establishment that almost certainly included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position in the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators in order to chair the Borgward supervisory panel would, in retrospect, contribute to the hot debate that followed the Borgward personal bankruptcy.
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With 28 July 1961 Semler, as Chairman of your supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings to the establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while at the same time protecting the interests of creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of his own, never had any objective of allowing the Borgward auto-businesses to be able to survive.
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