Borgward can be an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in this 1960s. The Borgward group generated four brands of autos: 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 with over 40 years, the BX7 at the actual 2015 International Motor Show.The origins of Bremen's most significant auto-business go back to 1905 with the organization in nearby Varel in the "Hansa Automobilgesellschaft" and the muse in Bremen itself associated with "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and from the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the particular scope of his car business, and he took control of it.
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The very first "automobile" Carl Borgward designed was the 1924 Blitzkarren (turbo cart), a sort of tiny three-wheeled van with 2 hp (1. 5 kW), which was an enormous success already in the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the still three wheeler timber framed synthetic leather bodied 5 or even 7 hp Goliath Master. Borgward turned his awareness of the other businesses in addition to led the development in the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 and also in 1939 the name was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from businesses he had acquired in the past to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business at a time of austerity and rationing. For many purposes the lenders would be run like a single entity, but in a business operated by the man to whom delegation wouldn't come naturally the spreading of legal entities on the other hand added unhelpful layers of complexity throughout the 1950s and encouraged a broadening on the range which in the end proved financially unsustainable with all the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of the top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella commenced in 1954. The Isabella would become Borgward's most in-demand model and remained in production for your life of the organization. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that is also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such seeing that air suspension and intelligent transmission, the company had trouble competing out there. While larger companies including Opel and VW took benefit of economies of scale and also kept their prices low to realize market share, Borgward's cost structure was even beyond necessary for its size, as it basically managed as four tiny independent companies and do not implemented such basic charge reduction strategies as joint development and parts sharing between the company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced to be a water-cooled boxer with entry wheel drive, but plagued with problems such as water leakage and gearbox snags. Lloyd lost money on the car though it was more expensive when compared with its direct competitors.In 1961, the company was required into liquidation by loan companies. Carl Borgward died inside July 1963, still insisting the company ended up technically solvent. This proved to be true within the sense that after the particular creditors were paid in full, there was still 5. 5 million Marks remaining from the business.
Studies of difficulties at Borgward surfaced in a article that appeared within Germany's leading news journal, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly vital of Carl Borgward's enterprise approach, and included many on the arguments later advanced to describe or justify the business's demise. The widest range regarding cars from any producer in Germany, produced by three until recently operationally autonomous firms (Borgward, Goliath and Lloyd) had been supporting a turnover of only 650 million Scars, placing the overall sales value on the combined Borgward auto companies only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation connected with new and modified products featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") offered rise to components which all too often did not work, broke down or fell apart, resulting in massive payments 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 open criticism targeting Borgward right now: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild paper and in television reviews. Critical media commentaries furthermore appeared concerning large loans towards the Borgward Group provided with the local Landesbank.It is apparent that this 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 if they use them constantly on full capacity, but the car market in Europe inside 1950s/60s was more periodic than today, with sales diminishing inside Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was more than usual, reflecting ambitious growth ideas, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered from the North American dealers inside 1960 (and on the 12, 000 delivered to them) 6, 000 might have being taken back following a slump in American demand. (Borgward was not the only real European auto maker hit by way of North American slump widely used for imported cars during 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 your banker for a further one million Marks of credit ratings, the loan to be backed by way of a guarantee from the Bremen local government which initially the Bremen senators decided to provide. However, following the flood connected with critical press comment the senators withdrew their guarantee. They now required Carl Borgward to pledge the organization itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported in a still hostile media, Borgward agreed to the senate’s terms on 5 February 1961, thereby averting the bankruptcy of the business.The Bremen Senate in addition insisted on appointing a unique nominee as chairman with the company’s supervisory board. The man they decided to go with was Johannes Semler which reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice on the breadth of Semler’s career. He had studied legislations at university and worked initially as being a lawyer. The scion of a leading Hamburg political family, in 1945 he acquired himself been a founding person in the centre-right CSU party, and was a person in the Bundestag between 1950 and also 1953. Despite his Hamburg roots, Semler was by these times based in Munich, with a network of contacts in the Bavarian establishment that possibly included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position inside the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators in order to chair the Borgward supervisory table would, in retrospect, contribute to the debate that followed the Borgward personal bankruptcy.
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Upon 28 July 1961 Semler, as Chairman of your supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the business to continue to trade while concurrently protecting the interests associated with creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his very own, never had any intent of allowing the Borgward auto-businesses to help survive.
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