Borgward can be an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the 1960s. The Borgward group produced four brands of vehicles: 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 associate Karlheinz L. Knöss, with assistance from China investment, and unveiled the business's first new car in over 40 years, the BX7 at the particular 2015 International Motor Display.The origins of Bremen's most significant auto-business return to 1905 with the institution in nearby Varel on the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself involving "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and with the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand this scope of his vehicle business, and he took control of it.
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The first "automobile" Carl Borgward made was the 1924 Blitzkarren (lightning cart), a sort of little three-wheeled van with only two hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget purchased for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the nevertheless three wheeler timber presented synthetic leather bodied 5 or maybe 7 hp Goliath Pioneer. Borgward turned his care about the other businesses and also led the development in the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 in addition to in 1939 the name was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from corporations he had acquired in the past to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business at a time of austerity and rationing. For many purposes the firms 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 spreading of legal entities even so added unhelpful layers of complexity through the 1950s and encouraged a broadening from the range which in the long run proved financially unsustainable with the sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.One of the top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's most in-demand model and remained in production for that life of the business. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers from the late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (which has been also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such since air suspension and programmed transmission, the company had trouble competing out there. While larger companies like Opel and VW took benefit of economies of scale along with kept their prices low to gain market share, Borgward's cost structure was even greater than necessary for its dimensions, as it basically operated as four tiny independent companies and do not implemented such basic price reduction strategies as combined development and parts sharing between your company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced as being a water-cooled boxer with entry wheel drive, but plagued with problems like water leakage and gearbox errors. Lloyd lost money on the car although it was more expensive as compared to its direct competitors.In 1961, the company was required into liquidation by credit card companies. Carl Borgward died in July 1963, still insisting the company were being technically solvent. This proved to be true in the sense that after the particular creditors were paid in full, there was still 5. 5 million Marks remaining from the business.
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Reports of difficulties at Borgward surfaced in the article that appeared throughout Germany's leading news newspaper, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly important of Carl Borgward's business approach, and included many from the arguments later advanced to explain or justify the business's demise. The widest range involving cars from any maker in Germany, produced by three until eventually recently operationally autonomous corporations (Borgward, Goliath and Lloyd) had been supporting a turnover associated with only 650 million Represents, placing the overall sales value through the combined Borgward auto companies only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation involving new and modified products featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") provided rise to components which too much did not work, broke down or fell apart, resulting in massive bills for pre-delivery remediation and/or post delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article was not the only serious open public criticism targeting Borgward at the moment: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild newspapers and in television stories. Critical media commentaries additionally appeared concerning large loans for the Borgward Group provided by the local Landesbank.It is apparent 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 should they use them constantly on full capacity, but the car market in Europe from the 1950s/60s was more seasons than today, with sales diminishing throughout Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars at the end of 1960 was beyond usual, reflecting ambitious growth strategies, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered by the North American dealers with 1960 (and with the 12, 000 delivered to them) 6, 000 might have for being taken back following a slump in Us demand. (Borgward was not the only European auto maker hit with a North American slump sought after for imported cars throughout 1960. In the same calendar year 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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Towards the end of December 1960 Borgward approached the bank for a further just one million Marks of credit, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators decided provide. However, following the flood of critical press comment this senators withdrew their assurance. They now required Carl Borgward to pledge the business itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported in a very still hostile media, Borgward agreed to this senate’s terms on 4 February 1961, thereby averting the bankruptcy of the business.The Bremen Senate likewise insisted on appointing a unique nominee as chairman with the company’s supervisory board. The man they decided was Johannes Semler which reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice to the breadth of Semler’s occupation. He had studied law at university and worked initially to be a lawyer. The scion of a top Hamburg political family, in 1945 he received himself been a founding member of the centre-right CSU get together, and was a person in the Bundestag between 1950 in addition to 1953. Despite his Hamburg sources, Semler was by on this occasion based in Munich, with a network of contacts within the Bavarian establishment that probably included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position in the Bizone. The appointment of Johannes Semler as 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 this supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling this company to continue to trade while simultaneously protecting the interests regarding creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of his or her own, never had any intention of allowing the Borgward auto-businesses in order to survive.
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