Borgward is an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in the actual 1960s. The Borgward group developed four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's son, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the business's first new car within over 40 years, the BX7 at this 2015 International Motor Show.The origins of Bremen's most significant auto-business resume 1905 with the establishment in nearby Varel with the "Hansa Automobilgesellschaft" and the walls in Bremen itself connected with "Namag", maker of the Lloyd car or truck. 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 because of 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 the possibility greatly to expand the actual scope of his car business, and he took control from it.
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The first "automobile" Carl Borgward created was the 1924 Blitzkarren (turbo cart), a sort of tiny three-wheeled van with two 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 been able to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 or even 7 hp Goliath Pioneer. Borgward turned his attention to the other businesses along with led the development in the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 and also in 1939 the brand was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from corporations he had acquired over time to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business at a time of austerity and rationing. For many purposes the companies would be run like a single entity, but in a business operated by way of man to whom delegation would not come naturally the spreading of legal entities however added unhelpful layers of complexity throughout the 1950s and encouraged a broadening from the range which in the long run proved financially unsustainable while using the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.On the list of top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's hottest model and remained in production for your life of the organization. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that is also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such since air suspension and automated transmission, the company had trouble competing out there. While larger companies including Opel and VW took benefit from economies of scale and also kept their prices low to gain market share, Borgward's cost structure was even greater than necessary for its size, as it basically run as four tiny independent companies and not implemented such basic charge reduction strategies as shared development and parts sharing between company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced as being a water-cooled boxer with entrance wheel drive, but plagued with problems for example water leakage and gearbox glitches. Lloyd lost money on the car although it was more expensive when compared with its direct competitors.In 1961, the company was pushed into liquidation by lenders. Carl Borgward died throughout July 1963, still insisting the company were being technically solvent. This proved to be true from the sense that after the creditors were paid completely, there was still four. 5 million Marks remaining from the business.
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Reviews of difficulties at Borgward surfaced within the article that appeared throughout Germany's leading news publication, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted with 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 on the arguments later advanced to explain or justify the business's demise. The widest range of cars from any maker in Germany, produced by three right up until recently operationally autonomous organizations (Borgward, Goliath and Lloyd) was supporting a turnover associated with only 650 million Scars, placing the overall sales value in the combined Borgward auto businesses only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation connected with new and modified versions featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") gave rise to components which many times did not work, broke down or droped apart, resulting in massive payments for pre-delivery remediation and/or submit delivery warranty work that found their long ago to the company.The December 1960 Spiegel article was not the only serious community criticism targeting Borgward currently: suddenly stridently negative (in the event that more succinct) comments also turned up in the influential mass-market Bild paper and in television stories. Critical media commentaries also appeared concerning large loans towards the Borgward Group provided with the local Landesbank.It is apparent how the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses for instance auto manufacturing use the expensive machines and tools most efficiently as long as they use them constantly from full capacity, but the car market in Europe in the 1950s/60s was more periodic than today, with sales diminishing in Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was greater than usual, reflecting ambitious growth plans, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered with the North American dealers within 1960 (and from the 12, 000 delivered to these) 6, 000 might have to become taken back following a slump in American demand. (Borgward was not the sole European auto maker hit by way of North American slump popular for imported cars through 1960. In the same 12 months two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached the financial institution for a further a single million Marks of credit ratings, the loan to be backed by a guarantee from the Bremen local government which initially the Bremen senators opted for provide. However, following the flood involving critical press comment this senators withdrew their promise. They now required Carl Borgward to pledge this company itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported in the still hostile media, Borgward agreed to the particular senate’s terms on 4 February 1961, thereby averting the bankruptcy with the business.The Bremen Senate additionally insisted on appointing its very own nominee as chairman in the company’s supervisory board. The man they chose was Johannes Semler which reports generally describe to be 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 rules at university and worked initially as 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 along with 1953. Despite his Hamburg beginning, Semler was by on this occasion based in Munich, with a network of contacts within the Bavarian establishment that likely included fellow CSU politician along with 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 for the reason that representative of the Bremen senators in order to chair the Borgward supervisory panel would, in retrospect, contribute to the hot debate that followed the Borgward personal bankruptcy.
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In 28 July 1961 Semler, as Chairman of your supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the business to continue to trade while as well protecting the interests regarding creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of her own, never had any purpose of allowing the Borgward auto-businesses to help survive.
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