Borgward can be an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in your 1960s. The Borgward group developed four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's grand son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the firm's first new car inside over 40 years, the BX7 at this 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business get back on 1905 with the institution in nearby Varel with the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself associated with "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to form 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 bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand this scope of his auto business, and he took control of it.
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The initial "automobile" Carl Borgward intended was the 1924 Blitzkarren (lightning cart), a sort of very small three-wheeled van with 2 hp (1. 5 kW), which was an enormous success available 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 overseer of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the nonetheless three wheeler timber presented synthetic leather bodied 5 or even 7 hp Goliath Leading. Borgward turned his attention to the other businesses in addition to led the development from the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 along with in 1939 the brand was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from organizations he had acquired through the years to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business during a period of austerity and rationing. For many purposes the businesses would be run being a single entity, but in a business operated by way of a man to whom delegation would not come naturally the spreading of legal entities even so added unhelpful layers of complexity with the 1950s and encouraged a broadening in the range which eventually proved financially unsustainable with all the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of several top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's hottest model and remained in production for the life of the corporation. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a distinct 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 has been also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such because air suspension and intelligent transmission, the company had trouble competing available on the market. While larger companies similar to Opel and VW took selling point of economies of scale along with kept their prices low to gain market share, Borgward's cost structure was even more than necessary for its measurement, as it basically managed as four tiny independent companies and don't implemented such basic charge 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 like a water-cooled boxer with entry wheel drive, but plagued with problems such as water leakage and gearbox errors. Lloyd lost money on the car just about the most was more expensive when compared with its direct competitors.In 1961, the company was pressured into liquidation by collectors. Carl Borgward died in July 1963, still insisting the company had been technically solvent. This proved to be true inside the sense that after your creditors were paid 100 %, there was still 5. 5 million Marks left over from the business.
Accounts of difficulties at Borgward surfaced within an article that appeared throughout Germany's leading news publication, “Der Spiegel” on 15 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 entrance cover. It was strongly essential of Carl Borgward's enterprise approach, and included many of the arguments later advanced to go into detail or justify the company's demise. The widest range involving cars from any manufacturer in Germany, produced by three till recently operationally autonomous firms (Borgward, Goliath and Lloyd) had been supporting a turnover involving only 650 million Grades, placing the overall sales value on the combined Borgward auto corporations only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation associated with new and modified versions featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") gave rise to components which too often did not work, broke down or dropped apart, resulting in massive costs for pre-delivery remediation and/or publish delivery warranty work that found their way back to the company.The December 1960 Spiegel article was not the only serious open criticism targeting Borgward currently: suddenly stridently negative (in the event that more succinct) comments also resulted in in the influential mass-market Bild newspapers and in television accounts. Critical media commentaries additionally appeared concerning large loans for the Borgward Group provided because of the local Landesbank.It is apparent the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses for instance auto manufacturing use their own expensive machines and tools most efficiently as long as they use them constantly with full capacity, but the car market in Europe within the 1950s/60s was more in season than today, with sales diminishing inside Winter, then peaking in early summer months: Borgward’s inventory of unsold cars by the end of 1960 was higher than usual, reflecting ambitious growth plans, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered through the North American dealers with 1960 (and with the 12, 000 delivered to them) 6, 000 might have to become taken back following a slump in American demand. (Borgward was not the only real European auto maker hit with a North American slump in demand for imported cars while in 1960. In the same 12 months two ships carrying Renault Dauphines were turned the government financial aid 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 financial institution for a further one particular million Marks of credit rating, the loan to be backed by way of a guarantee from the Bremen local government which initially the Bremen senators consented to provide. However, following the flood regarding critical press comment the senators withdrew their guarantee. 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 the still hostile media, Borgward agreed to your senate’s terms on four February 1961, thereby averting the bankruptcy with the business.The Bremen Senate additionally insisted on appointing a nominee as chairman from 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 in English, does less than full justice towards the breadth of Semler’s career. He had studied legislation 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 beginnings, Semler was by this time around based in Munich, with a network of contacts inside Bavarian establishment that almost certainly included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position inside the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators to help chair the Borgward supervisory board would, in retrospect, contribute to the dispute that followed the Borgward individual bankruptcy.
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Upon 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided to get a court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while while doing so protecting the interests regarding creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of their own, never had any intent of allowing the Borgward auto-businesses to be able to survive.
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