Borgward is usually an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in the actual 1960s. The Borgward group made four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's grandson, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the company's first new car inside over 40 years, the BX7 at the 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business get back on 1905 with the business in nearby Varel on the "Hansa Automobilgesellschaft" and the foundation in Bremen itself involving "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economy then confronting Germany, the business failed to prosper and with 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 the particular scope of his auto business, and he took control from it.
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The first "automobile" Carl Borgward designed was the 1924 Blitzkarren (turbo cart), a sort of teeny three-wheeled van with 3 hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the nonetheless three wheeler timber presented synthetic leather bodied 5 or perhaps 7 hp Goliath Master. Borgward turned his care about the other businesses as well as led the development of the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 and in 1939 the brand was shortened to Borgward 2000. The 2000 model was followed 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 businesses he had acquired over time to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business at a time of austerity and rationing. For many purposes nokia's 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 even so added unhelpful layers of complexity through the 1950s and encouraged a broadening in the range which eventually proved financially unsustainable with all the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.Among the top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most in-demand model and remained in production for the life of the business. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers within the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that is also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such while air suspension and automatic transmission, the company had trouble competing available. While larger companies such as Opel and VW took advantage of economies of scale and also kept their prices low to get market share, Borgward's cost structure was even above necessary for its dimensions, as it basically handled as four tiny independent companies rather than implemented such basic price reduction strategies as shared development and parts sharing between your company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced as a water-cooled boxer with entry wheel drive, but plagued with problems including water leakage and gearbox snags. Lloyd lost money on the car although it was more expensive than its direct competitors.In 1961, the company was forced into liquidation by creditors. Carl Borgward died throughout July 1963, still insisting the company was technically solvent. This proved to be true from the sense that after the creditors were paid in full, there was still several. 5 million Marks left over from the business.
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Stories of difficulties at Borgward surfaced in an article that appeared with Germany's leading news journal, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly essential of Carl Borgward's small business approach, and included many of the arguments later advanced to go into detail or justify the corporation's demise. The widest range of cars from any company in Germany, produced by three until finally recently operationally autonomous firms (Borgward, Goliath and Lloyd) ended up being supporting a turnover regarding 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 with an increasingly manic proliferation of new and modified designs featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") presented rise to components which too much did not work, broke down or droped apart, resulting in massive costs for pre-delivery remediation and/or article delivery warranty work that found their in the past to the company.The December 1960 Spiegel article wasn't the only serious general public criticism targeting Borgward currently: suddenly stridently negative (in the event more succinct) comments also turned up in the influential mass-market Bild newspapers and in television studies. Critical media commentaries in addition appeared concerning large loans towards the Borgward Group provided with the local Landesbank.It is apparent how the business was confronting cash-flow difficulties towards 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 from full capacity, but the car market in Europe in the 1950s/60s was more periodic 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 greater than usual, reflecting ambitious growth plans, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered through the North American dealers throughout 1960 (and of the 12, 000 delivered to them) 6, 000 might have to be taken back following a slump in Us demand. (Borgward was not the one European auto maker hit with a North American slump widely used for imported cars throughout 1960. In the same 12 months two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached the bank for a further a single million Marks of credit, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators agreed to provide. However, following the flood of critical press comment your senators withdrew their promise. They now required Carl Borgward to pledge the corporation 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 on the business.The Bremen Senate likewise insisted on appointing a unique nominee as chairman of the company’s supervisory board. The man they decided to go with was Johannes Semler with whom reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice for the breadth of Semler’s occupation. He had studied legislation at university and worked initially as being a lawyer. The scion of a number one Hamburg political family, in 1945 he acquired himself been a founding member of the centre-right CSU celebration, and was a person in the Bundestag between 1950 and 1953. Despite his Hamburg beginnings, Semler was by this time based in Munich, with a network of contacts within the Bavarian establishment that likely included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position inside the Bizone. The appointment of Johannes Semler because representative of the Bremen senators in order to chair the Borgward supervisory board would, in retrospect, contribute to the dispute that followed the Borgward chapter 7.
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With 28 July 1961 Semler, as Chairman of the actual 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 to get a court sanctioned scheme of arrangement enabling the organization to continue to trade while while doing so protecting the interests regarding creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of his or her own, never had any goal of allowing the Borgward auto-businesses for you to survive.
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