Borgward can be an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in the particular 1960s. The Borgward group developed four brands of automobiles: 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 companion Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the businesses first new car throughout over 40 years, the BX7 at the 2015 International Motor Present.The origins of Bremen's most significant auto-business get back on 1905 with the business in nearby Varel of the "Hansa Automobilgesellschaft" and the muse in Bremen itself of "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 status then confronting Germany, the business failed to prosper and with the late 1920s faced chapter 7. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand the particular scope of his automotive business, and he took control of computer.
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The very first "automobile" Carl Borgward developed was the 1924 Blitzkarren (turbo cart), a sort of tiny three-wheeled van with two hp (1. 5 kW), which was an enormous success out there 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 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 nevertheless three wheeler timber framed synthetic leather bodied 5 or 7 hp Goliath Leading. Borgward turned his focus on the other businesses along with led the development with the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 as well as in 1939 the name was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from firms he had acquired over time to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business at the same time of austerity and rationing. For many purposes the companies would be run as a single entity, but in a business operated by way of a man to whom delegation did not come naturally the spreading of legal entities nevertheless added unhelpful layers of complexity from the 1950s and encouraged a broadening in the range which in the end proved financially unsustainable while using the sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.Among the top engineers at Borgward coming from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most in-demand model and remained in production with the life of the company. In 1960 the Borgward P100 had 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 learning to be a successful Formula Two power unit (that is also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such while air suspension and computerized transmission, the company had trouble competing in the market. While larger companies similar to Opel and VW took benefit of economies of scale and also kept their prices low to get market share, Borgward's cost structure was even beyond necessary for its dimensions, as it basically managed as four tiny independent companies rather than implemented such basic price tag reduction strategies as joint development and parts sharing between the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced as being a water-cooled boxer with front wheel drive, but plagued with problems such as water leakage and gearbox mistakes. Lloyd lost money on the car although it was more expensive in comparison with its direct competitors.In 1961, the company was forced into liquidation by credit card companies. Carl Borgward died inside July 1963, still insisting the company have been technically solvent. This proved to be true inside the sense that after the creditors were paid completely, there was still some. 5 million Marks remaining from the business.
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Stories of difficulties at Borgward surfaced in the article that appeared with Germany's leading news mag, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly vital of Carl Borgward's organization approach, and included many on the arguments later advanced to explain or justify the business's demise. The widest range connected with cars from any producer in Germany, produced by three until eventually recently operationally autonomous corporations (Borgward, Goliath and Lloyd) ended up being supporting a turnover involving only 650 million Scars, placing the overall sales value in the combined Borgward auto corporations only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation associated with new and modified products featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") gave rise to components which too often did not work, broke down or droped apart, resulting in massive expenses for pre-delivery remediation and/or write-up delivery warranty work that found their made use of to the company.The December 1960 Spiegel article has not been the only serious open public criticism targeting Borgward currently: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild classifieds and in television accounts. Critical media commentaries furthermore appeared concerning large loans to the Borgward Group provided from the local Landesbank.It is apparent that this business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses such as auto manufacturing use their expensive machines and tools most efficiently when they use them constantly from full capacity, but the car market in Europe from 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 by the end of 1960 was more than usual, reflecting ambitious growth ideas, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered through the North American dealers inside 1960 (and from the 12, 000 delivered to them) 6, 000 might have to get taken back following a slump in United states demand. (Borgward was not the only real European auto maker hit by way of North American slump widely used for imported cars in the course of 1960. In the same 12 months two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached your banker for a further one particular million Marks of credit history, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators agreed to provide. However, following the flood regarding critical press comment your senators withdrew their promise. They now required Carl Borgward to pledge the organization itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported inside a still hostile media, Borgward agreed to your senate’s terms on 5 February 1961, thereby averting the bankruptcy of the business.The Bremen Senate likewise insisted on appointing a unique nominee as chairman on the company’s supervisory board. The man they decided to go with was Johannes Semler whom reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice for the breadth of Semler’s profession. 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 member of the centre-right CSU celebration, and was a member of the Bundestag between 1950 along with 1953. Despite his Hamburg roots, Semler was by this time based in Munich, with a network of contacts inside the Bavarian establishment that likely included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position in the Bizone. The appointment of Johannes Semler because representative of the Bremen senators to help chair the Borgward supervisory panel would, in retrospect, contribute to the controversy that followed the Borgward individual bankruptcy.
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On 28 July 1961 Semler, as Chairman of this supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the business enterprise 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 organizations were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of their own, never had any intent of allowing the Borgward auto-businesses for you to survive.
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