Borgward is an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in your 1960s. The Borgward group made four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's son, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the company's first new car in over 40 years, the BX7 at this 2015 International Motor Show.The origins of Bremen's most significant auto-business go back to 1905 with the place in nearby Varel with the "Hansa Automobilgesellschaft" and the muse in Bremen itself of "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and by 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 scope of his auto business, and he took control from it.
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The 1st "automobile" Carl Borgward developed was the 1924 Blitzkarren (super cart), a sort of tiny three-wheeled van with two hp (1. 5 kW), which was an enormous success on the market gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the still three wheeler timber presented synthetic leather bodied 5 or maybe 7 hp Goliath Pioneer. Borgward turned his focus on the other businesses in addition to led the development on the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 along with in 1939 the label was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from organizations he had acquired in the past to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business during a period of austerity and rationing. For many purposes the lenders would be run to be a single entity, but in a business operated with a man to whom delegation would not come naturally the proliferation of legal entities nevertheless added unhelpful layers of complexity throughout the 1950s and encouraged a broadening of the range which ultimately proved financially unsustainable while using sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.One of many top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's most widely used model and remained in production for that life of the organization. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these learning to be a successful Formula Two power unit (that was also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such because air suspension and programmed transmission, the company had trouble competing in the marketplace. While larger companies such as Opel and VW took good thing about economies of scale and kept their prices low to get market share, Borgward's cost structure was even more than necessary for its size, as it basically operated as four tiny independent companies and do not implemented such basic expense reduction strategies as shared development and parts sharing involving the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced as a water-cooled boxer with the front wheel drive, but plagued with problems including water leakage and gearbox secrets. Lloyd lost money on the car community . was more expensive compared to its direct competitors.In 1961, the company was compelled into liquidation by loan companies. Carl Borgward died with July 1963, still insisting the company ended up technically solvent. This proved to be true in the sense that after your creditors were paid completely, there was still 5. 5 million Marks remaining from the business.
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Studies of difficulties at Borgward surfaced in a article that appeared inside Germany's leading news mag, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly essential of Carl Borgward's business approach, and included many in the arguments later advanced to spell out or justify the corporation's demise. The widest range connected with cars from any supplier in Germany, produced by three until finally recently operationally autonomous organizations (Borgward, Goliath and Lloyd) has been supporting a turnover involving only 650 million Marks, placing the overall sales value from your combined Borgward auto firms only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation involving new and modified designs featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") offered rise to components which all too often did not work, broke down or chop down apart, resulting in massive bills for pre-delivery remediation and/or publish delivery warranty work that found their made use of to the company.The December 1960 Spiegel article was not the only serious public criticism targeting Borgward at this time: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild newspaper and in television accounts. Critical media commentaries likewise appeared concerning large loans for the Borgward Group provided through the local Landesbank.It is apparent how the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses including auto manufacturing use their own expensive machines and tools most efficiently should 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 with Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars at the end of 1960 was above usual, reflecting ambitious growth programs, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered with the North American dealers with 1960 (and with the 12, 000 delivered to these individuals) 6, 000 might have to be taken back following a slump in Us demand. (Borgward was not the only real European auto maker hit by a North American slump in demand for imported cars in the course of 1960. In the same 12 months 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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Right at the end of December 1960 Borgward approached the lender for a further 1 million Marks of credit, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators consented to provide. However, following the flood involving critical press comment the particular senators withdrew their guarantee. 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 within a still hostile media, Borgward agreed to the senate’s terms on some February 1961, thereby averting the bankruptcy of the business.The Bremen Senate also insisted on appointing its own nominee as chairman of the company’s supervisory board. The man they select was Johannes Semler to whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice for the breadth of Semler’s occupation. He had studied law at university and worked initially as being a lawyer. The scion of a number one Hamburg political family, in 1945 he had himself been a founding person in the centre-right CSU party, and was a person in the Bundestag between 1950 as well as 1953. Despite his Hamburg beginning, Semler was by now based in Munich, with a network of contacts in the Bavarian establishment that probably included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position in the Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators for you to chair the Borgward supervisory board would, in retrospect, contribute to the conflict that followed the Borgward individual bankruptcy.
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With 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors on 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 at the same time protecting the interests of 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” possess suggested that Semler, for reasons of his own, never had any goal of allowing the Borgward auto-businesses in order to survive.
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