Borgward is an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the actual 1960s. The Borgward group developed four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grand son, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the business's first new car inside over 40 years, the BX7 at the particular 2015 International Motor Present.The origins of Bremen's most significant auto-business get back to 1905 with the institution in nearby Varel from the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself associated with "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economy then confronting Germany, the business failed to prosper and by the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand this scope of his car business, and he took control of the usb ports.
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The first "automobile" Carl Borgward intended was the 1924 Blitzkarren (super cart), a sort of little 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 ordered for delivery. The Reichspost ordered many 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 nevertheless three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Pioneer. Borgward turned his attention to the other businesses along with led the development with the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 and also in 1939 the label was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from organizations he had acquired in the past to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business each time of austerity and rationing. For many purposes the lenders would be run as a single entity, but in a business operated by the man to whom delegation would not come naturally the growth of legal entities nevertheless added unhelpful layers of complexity with the 1950s and encouraged a broadening from the range which finally proved financially unsustainable with the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.Among the top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most favored model and remained in production for the life of the organization. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (that was also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such seeing that air suspension and automated transmission, the company had trouble competing out there. While larger companies such as Opel and VW took benefit of economies of scale as well as kept their prices low to gain market share, Borgward's cost structure was even beyond necessary for its sizing, as it basically handled as four tiny independent companies and never implemented such basic price reduction strategies as mutual development and parts sharing between the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced to be a water-cooled boxer with the front wheel drive, but plagued with problems for example water leakage and gearbox errors. Lloyd lost money on the car though it was more expensive than its direct competitors.In 1961, the company was pressured into liquidation by lenders. Carl Borgward died throughout July 1963, still insisting the company ended up technically solvent. This proved to be true within the sense that after the creditors were paid 100 %, there was still 4. 5 million Marks left over from the business.
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Reports of difficulties at Borgward surfaced in a article that appeared within Germany's leading news journal, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly critical of Carl Borgward's enterprise approach, and included many with the arguments later advanced to spell out or justify the firm's demise. The widest range associated with cars from any company in Germany, produced by three till recently operationally autonomous businesses (Borgward, Goliath and Lloyd) seemed to be supporting a turnover regarding only 650 million Signifies, placing the overall sales value through the combined Borgward auto organizations only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation associated with new and modified designs featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") offered rise to components which all too often did not work, broke down or dropped apart, resulting in massive bills for pre-delivery remediation and/or article delivery warranty work that found their way back to the company.The December 1960 Spiegel article has not been the only serious community criticism targeting Borgward right now: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild classifieds and in television reviews. Critical media commentaries furthermore appeared concerning large loans to the Borgward Group provided from the local Landesbank.It is apparent that the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses for example auto manufacturing use their own expensive machines and tools most efficiently should they use them constantly at full capacity, but the car market in Europe in the 1950s/60s was more seasonal than today, with sales diminishing inside Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars towards the end of 1960 was beyond usual, reflecting ambitious growth strategies, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered by the North American dealers throughout 1960 (and on the 12, 000 delivered to these individuals) 6, 000 might have to get taken back following a slump in Us demand. (Borgward was not the one European auto maker hit by a North American slump popular for imported cars throughout 1960. In the same yr two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached the lending company for a further just one million Marks of credit ratings, the loan to be backed by a guarantee from the Bremen regional government which initially the Bremen senators consented to provide. However, following the flood of critical press comment the senators withdrew their guarantee. They now required Carl Borgward to pledge the company 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 your senate’s terms on several February 1961, thereby averting the bankruptcy in the business.The Bremen Senate also insisted on appointing its nominee as chairman on the company’s supervisory board. The man they decided to go with was Johannes Semler whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice for the breadth of Semler’s job. He had studied regulation at university and worked initially being a lawyer. The scion of a respected Hamburg political family, in 1945 he received himself been a founding person in the centre-right CSU get together, and was a person in the Bundestag between 1950 and 1953. Despite his Hamburg beginnings, Semler was by this time around based in Munich, with a network of contacts in the Bavarian establishment that likely included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position from the Bizone. The appointment of Johannes Semler because representative of the Bremen senators to chair the Borgward supervisory board would, in retrospect, contribute to the debate that followed the Borgward a bankruptcy proceeding.
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On 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 enterprise to continue to trade while while doing so protecting the interests regarding creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of his very own, never had any purpose of allowing the Borgward auto-businesses to survive.
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