Borgward can be an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in your 1960s. The Borgward group developed four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grandson, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the corporation's first new car in over 40 years, the BX7 at the actual 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business get back to 1905 with the institution in nearby Varel on the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself connected with "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 situation then confronting Germany, the business failed to prosper and because of the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand the particular scope of his auto business, and he took control of the usb ports.
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The first "automobile" Carl Borgward created was the 1924 Blitzkarren (turbo cart), a sort of teeny three-wheeled van with only two hp (1. 5 kW), which was an enormous success on the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the however three wheeler timber presented synthetic leather bodied 5 or even 7 hp Goliath Leader. Borgward turned his awareness of the other businesses along with led the development of the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 and in 1939 the label was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from corporations he had acquired in the past to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business at the same time of austerity and rationing. For many purposes the lenders 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 growth of legal entities even so added unhelpful layers of complexity throughout the 1950s and encouraged a broadening on the range which finally proved financially unsustainable with all the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of several top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most popular model and remained in production for the life of the business. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers in the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that was also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties inside 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 good thing about economies of scale and also kept their prices low to realize market share, Borgward's cost structure was even higher than necessary for its size, as it basically managed as four tiny independent companies and never implemented such basic charge reduction strategies as combined development and parts sharing between company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced to be a water-cooled boxer with top wheel drive, but plagued with problems for instance water leakage and gearbox secrets. Lloyd lost money on the car community . was more expensive when compared with its direct competitors.In 1961, the company was required into liquidation by lenders. Carl Borgward died with July 1963, still insisting the company have been technically solvent. This proved to be true in the sense that after your creditors were paid entirely, there was still four. 5 million Marks remaining from the business.
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Reports of difficulties at Borgward surfaced in an article that appeared with Germany's leading news publication, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly essential of Carl Borgward's company approach, and included many of the arguments later advanced to spell out or justify the firm's demise. The widest range involving cars from any supplier in Germany, produced by three till recently operationally autonomous corporations (Borgward, Goliath and Lloyd) had been supporting a turnover of only 650 million Scars, placing the overall sales value on the combined Borgward auto firms only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation regarding new and modified types featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") gave rise to components which all too often did not work, broke down or droped apart, resulting in massive expenses for pre-delivery remediation and/or post delivery warranty work that found their long ago to the company.The December 1960 Spiegel article has not been the only serious public criticism targeting Borgward currently: suddenly stridently negative (in the event that more succinct) comments also resulted in in the influential mass-market Bild magazine and in television reports. Critical media commentaries furthermore appeared concerning large loans on the Borgward Group provided because of the local Landesbank.It is apparent which the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses such as auto manufacturing use his or her expensive machines and tools most efficiently if they use them constantly on full capacity, but the car market in Europe in the 1950s/60s was more in season than today, with sales diminishing throughout Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars right at the end of 1960 was beyond usual, reflecting ambitious growth ideas, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered through the North American dealers within 1960 (and with the 12, 000 delivered to them) 6, 000 might have to get taken back following a slump in North american demand. (Borgward was not the only European auto maker hit by the North American slump widely used for imported cars in the course of 1960. In the same calendar year 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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At the end of December 1960 Borgward approached the lending company for a further a single million Marks of credit ratings, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators opted for provide. However, following the flood of critical press comment your 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 inside a still hostile media, Borgward agreed to the particular senate’s terms on several February 1961, thereby averting the bankruptcy with the business.The Bremen Senate likewise insisted on appointing a unique nominee as chairman from the company’s supervisory board. The man they decided to go with was Johannes Semler with whom reports generally describe being 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 regulation at university and worked initially as being a lawyer. The scion of a number one Hamburg political family, in 1945 he experienced himself been a founding member of the centre-right CSU gathering, and was a member of the Bundestag between 1950 along with 1953. Despite his Hamburg beginning, Semler was by now based in Munich, with a network of contacts within the Bavarian establishment that probably included fellow CSU politician and 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 as the representative of the Bremen senators in order to chair the Borgward supervisory panel would, in retrospect, contribute to the conflict that followed the Borgward bankruptcy.
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With 28 July 1961 Semler, as Chairman of this supervisory board joined the directors from the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the business to continue to trade while as well protecting the interests regarding creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of their own, never had any intention of allowing the Borgward auto-businesses to survive.
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