Borgward is usually an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in the particular 1960s. The Borgward group made four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the firm's first new car in over 40 years, the BX7 at the actual 2015 International Motor Indicate.The origins of Bremen's most significant auto-business get back on 1905 with the establishment in nearby Varel in the "Hansa Automobilgesellschaft" and the walls in Bremen itself connected with "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and through the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the particular scope of his automotive business, and he took control of it.
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The very first "automobile" Carl Borgward made was the 1924 Blitzkarren (super cart), a sort of very small three-wheeled van with two hp (1. 5 kW), which was an enormous success on the market 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 director of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the still three wheeler timber presented synthetic leather bodied 5 or maybe 7 hp Goliath Leading. Borgward turned his care about the other businesses as well as led the development with the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 as well as in 1939 the label was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from companies he had acquired in the past to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business at any given time of austerity and rationing. For many purposes the lenders would be run being a single entity, but in a business operated by the man to whom delegation would not come naturally the spreading of legal entities nevertheless added unhelpful layers of complexity over the 1950s and encouraged a broadening of the range which in the long run proved financially unsustainable with the sales volumes achievable. In 1949 company displayed 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 widely used model and remained in production for your life of the organization. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these transforming into 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 computerized transmission, the company had trouble competing in the market. While larger companies similar to Opel and VW took benefit of economies of scale and also kept their prices low to gain market share, Borgward's cost structure was even greater than necessary for its measurement, as it basically operated as four tiny independent companies and don't implemented such basic price reduction strategies as mutual development and parts sharing involving the company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced as a water-cooled boxer with entry wheel drive, but plagued with problems for instance water leakage and gearbox mistakes. Lloyd lost money on the car even though it was more expensive than its direct competitors.In 1961, the company was forced into liquidation by lenders. Carl Borgward died within July 1963, still insisting the company have been technically solvent. This proved to be true inside sense that after the actual creditors were paid in full, there was still some. 5 million Marks left from the business.
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Studies of difficulties at Borgward surfaced within the article that appeared within Germany's leading news newspaper, “Der Spiegel” on age 14 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 entrance cover. It was strongly crucial of Carl Borgward's business approach, and included many of the arguments later advanced to spellout or justify the business's demise. The widest range associated with cars from any company in Germany, produced by three until eventually recently operationally autonomous corporations (Borgward, Goliath and Lloyd) was supporting a turnover connected with only 650 million Signifies, placing the overall sales value in the combined Borgward auto corporations only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation involving 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 chop down apart, resulting in massive expenses for pre-delivery remediation and/or write-up delivery warranty work that found their in the past to the company.The December 1960 Spiegel article was not the only serious community criticism targeting Borgward right now: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild newspapers and in television reports. Critical media commentaries also appeared concerning large loans for the Borgward Group provided with the local Landesbank.It is apparent how the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses including auto manufacturing use their own expensive machines and tools most efficiently whenever they use them constantly at full capacity, but the car market in Europe in the 1950s/60s was more periodic than today, with sales diminishing throughout Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars by the end of 1960 was beyond usual, reflecting ambitious growth programs, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered from the North American dealers with 1960 (and in the 12, 000 delivered to all of them) 6, 000 might have to get taken back following a slump in North american demand. (Borgward was not the one European auto maker hit by the North American slump in demand for imported cars during 1960. In the same season two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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At the conclusion of December 1960 Borgward approached the lending company for a further one particular million Marks of credit score, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators decided to provide. However, following the flood associated with critical press comment your senators withdrew their assure. 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 this senate’s terms on 5 February 1961, thereby averting the bankruptcy on the business.The Bremen Senate likewise insisted on appointing its own nominee as chairman on the company’s supervisory board. The man they chose was Johannes Semler who reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice towards breadth of Semler’s occupation. He had studied legislation at university and worked initially like a lawyer. The scion of a top Hamburg political family, in 1945 he acquired himself been a founding person in the centre-right CSU gathering, and was a member of the Bundestag between 1950 and also 1953. Despite his Hamburg origins, Semler was by this time around based in Munich, with a network of contacts within the Bavarian establishment that possibly included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position inside Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators to help chair the Borgward supervisory mother board would, in retrospect, contribute to the dispute that followed the Borgward chapter 7.
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About 28 July 1961 Semler, as Chairman of this supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the business to continue to trade while while doing so protecting the interests regarding 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” have suggested that Semler, for reasons of his very own, never had any purpose of allowing the Borgward auto-businesses to be able to survive.
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