Borgward is usually an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in your 1960s. The Borgward group made four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's son, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from China investment, and unveiled the business's first new car inside over 40 years, the BX7 at the particular 2015 International Motor Display.The origins of Bremen's most significant auto-business get back on 1905 with the place in nearby Varel in the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself associated with "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 economic situation then confronting Germany, the business failed to prosper and because of the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand this scope of his vehicle business, and he took control of computer.
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The primary "automobile" Carl Borgward created was the 1924 Blitzkarren (turbo cart), a sort of tiny three-wheeled van with only two hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the however three wheeler timber framed synthetic leather bodied 5 as well as 7 hp Goliath Pioneer. Borgward turned his attention to the other businesses along with led the development of the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 and also in 1939 the title was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from corporations he had acquired in recent times to found three separate 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 firms would be run as a single entity, but in a business operated by the man to whom delegation wouldn't come naturally the growth of legal entities even so added unhelpful layers of complexity through the 1950s and encouraged a broadening with the range which eventually proved financially unsustainable with the sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.Among the top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most in-demand model and remained in production to the life of the firm. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that has been also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such seeing that air suspension and automated transmission, the company had trouble competing in the market. While larger companies just like Opel and VW took good thing about economies of scale and also kept their prices low to realize market share, Borgward's cost structure was even more than necessary for its dimensions, as it basically managed as four tiny independent companies and not implemented such basic expense reduction strategies as shared development and parts sharing between company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced as being a water-cooled boxer with entry wheel drive, but plagued with problems for instance water leakage and gearbox errors. Lloyd lost money on the car even though it was more expensive than its direct competitors.In 1961, the company was pushed into liquidation by loan companies. Carl Borgward died throughout July 1963, still insisting the company was technically solvent. This proved to be true inside the sense that after the particular creditors were paid in full, there was still 4. 5 million Marks left over from the business.
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Studies of difficulties at Borgward surfaced in a article that appeared in Germany's leading news mag, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly crucial of Carl Borgward's enterprise approach, and included many in the arguments later advanced to describe or justify the corporation's demise. The widest range connected with cars from any company in Germany, produced by three till recently operationally autonomous companies (Borgward, Goliath and Lloyd) had been supporting a turnover of only 650 million Represents, placing the overall sales value from the combined Borgward auto companies only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation associated with new and modified models featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") afforded rise to components which many times did not work, broke down or fell apart, resulting in massive costs for pre-delivery remediation and/or submit delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article hasn't been the only serious public criticism targeting Borgward presently: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild paper and in television stories. Critical media commentaries likewise appeared concerning large loans towards the Borgward Group provided with the local Landesbank.It is apparent how the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses for example auto manufacturing use his or her expensive machines and tools most efficiently as long as 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 early summer months: Borgward’s inventory of unsold cars at 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 of the 15, 000 Borgward cars ordered because of the North American dealers within 1960 (and with the 12, 000 delivered to these individuals) 6, 000 might have to become taken back following a slump in Us demand. (Borgward was not the only real European auto maker hit by way of North American slump sought after for imported cars while in 1960. In the same yr two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached the financial institution for a further one million Marks of credit history, the loan to be backed with a guarantee from the Bremen regional government which initially the Bremen senators opted for provide. However, following the flood of critical press comment the actual senators withdrew their assurance. They now required Carl Borgward to pledge the company itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported in a very still hostile media, Borgward agreed to the senate’s terms on several February 1961, thereby averting the bankruptcy with the business.The Bremen Senate furthermore insisted on appointing its nominee as chairman from the company’s supervisory board. The man they decided to go with was Johannes Semler who 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 occupation. He had studied legislation at university and worked initially like a lawyer. The scion of a leading Hamburg political family, in 1945 he experienced himself been a founding member of the centre-right CSU bash, and was a person in the Bundestag between 1950 in addition to 1953. Despite his Hamburg beginning, Semler was by this time around based in Munich, with a network of contacts inside Bavarian establishment that possibly included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position in the Bizone. The appointment of Johannes Semler because representative of the Bremen senators to chair the Borgward supervisory board would, in retrospect, contribute to the debate that followed the Borgward individual bankruptcy.
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With 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the business to continue to trade while while doing so protecting the interests of creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of her own, never had any purpose of allowing the Borgward auto-businesses to be able to survive.
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