Borgward is an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in this 1960s. The Borgward group created 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 companion Karlheinz L. Knöss, with assistance from China investment, and unveiled the businesses first new car within over 40 years, the BX7 at the actual 2015 International Motor Display.The origins of Bremen's most significant auto-business get back to 1905 with the place in nearby Varel of the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself regarding "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 financial status then confronting Germany, the business failed to prosper and because of the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand the particular scope of his vehicle business, and he took control of it.
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The 1st "automobile" Carl Borgward created was the 1924 Blitzkarren (turbo cart), a sort of teeny three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget purchased for delivery. The Reichspost ordered some of them for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the still three wheeler timber framed synthetic leather bodied 5 or maybe 7 hp Goliath Pioneer. 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 in addition to in 1939 the brand was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from organizations he had acquired in the past to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business during a period of austerity and rationing. For many purposes the companies would be run to be a single entity, but in a business operated by way of man to whom delegation wouldn't come naturally the expansion of legal entities nonetheless added unhelpful layers of complexity with the 1950s and encouraged a broadening in the range which in the long run proved financially unsustainable with 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 with the life of the organization. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these learning to be a successful Formula Two power unit (that was also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such since air suspension and intelligent transmission, the company had trouble competing available. While larger companies like Opel and VW took good thing about economies of scale along with kept their prices low to find market share, Borgward's cost structure was even above necessary for its dimension, as it basically handled as four tiny independent companies and don't implemented such basic cost reduction strategies as shared development and parts sharing between the 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 instance water leakage and gearbox errors. Lloyd lost money on the car community . was more expensive compared to its direct competitors.In 1961, the company was pressured into liquidation by creditors. Carl Borgward died inside July 1963, still insisting the company were being technically solvent. This proved to be true inside sense that after the particular creditors were paid entirely, there was still four. 5 million Marks left over from the business.
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Reviews of difficulties at Borgward surfaced within an article that appeared throughout Germany's leading news newspaper, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly vital of Carl Borgward's company approach, and included many from the arguments later advanced to go into detail or justify the business's demise. The widest range associated with cars from any producer in Germany, produced by three until eventually recently operationally autonomous organizations (Borgward, Goliath and Lloyd) had been supporting a turnover of only 650 million Grades, placing the overall sales value on the combined Borgward auto firms only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation involving new and modified designs featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") offered rise to components which too much did not work, broke down or droped apart, resulting in massive bills for pre-delivery remediation and/or post delivery warranty work that found their in the past to the company.The December 1960 Spiegel article had not been the only serious public criticism targeting Borgward currently: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild classifieds and in television studies. Critical media commentaries additionally appeared concerning large loans towards Borgward Group provided because of the local Landesbank.It is apparent how the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses for instance auto manufacturing use the expensive machines and tools most efficiently if they use them constantly with full capacity, but the car market in Europe in the 1950s/60s was more temporary than today, with sales diminishing in Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was more than usual, reflecting ambitious growth ideas, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered because of the North American dealers inside 1960 (and on 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 sole European auto maker hit by the North American slump in demand for imported cars during 1960. In the same year two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached your banker for a further 1 million Marks of credit ratings, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators decided to provide. However, following the flood regarding critical press comment your senators withdrew their guarantee. 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 within a still hostile media, Borgward agreed to the actual senate’s terms on several February 1961, thereby averting the bankruptcy from the business.The Bremen Senate in addition insisted on appointing a unique nominee as chairman in the company’s supervisory board. The man they chose was Johannes Semler to whom reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice for the breadth of Semler’s profession. He had studied rules at university and worked initially like a lawyer. The scion of a leading Hamburg political family, in 1945 he had himself been a founding member of the centre-right CSU get together, and was a member of the Bundestag between 1950 and 1953. Despite his Hamburg sources, Semler was by now based in Munich, with a network of contacts in the Bavarian establishment that probably included fellow CSU politician along with 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 the representative of the Bremen senators to be able to chair the Borgward supervisory aboard would, in retrospect, contribute to the controversy that followed the Borgward chapter 7.
With 28 July 1961 Semler, as Chairman of your supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings to the establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the company to continue to trade while at the same time protecting the interests associated with creditors. [16] Two months later on, 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 their own, never had any goal of allowing the Borgward auto-businesses in order to survive.
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