Borgward can be an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in the 1960s. The Borgward group made 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 spouse Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the businesses first new car within over 40 years, the BX7 at your 2015 International Motor Present.The origins of Bremen's most significant auto-business return to 1905 with the place in nearby Varel on the "Hansa Automobilgesellschaft" and the walls in Bremen itself involving "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 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 through the late 1920s faced chapter 7. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand this scope of his auto business, and he took control of computer.
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The first "automobile" Carl Borgward created was the 1924 Blitzkarren (lightning cart), a sort of teeny three-wheeled van with two hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered some 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 & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 as well as 7 hp Goliath Founder. Borgward turned his awareness of the other businesses as well as led the development with the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 and also in 1939 the brand 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 lot of the brand names from organizations he had acquired over the years 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 as a single entity, but in a business operated with a man to whom delegation wouldn't come naturally the proliferation of legal entities nonetheless added unhelpful layers of complexity throughout the 1950s and encouraged a broadening from the range which finally proved financially unsustainable while using the sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.One of the 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 hottest model and remained in production with the life of the firm. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (that is also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such seeing that air suspension and computerized transmission, the company had trouble competing available. While larger companies including 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 higher than necessary for its measurement, as it basically handled as four tiny independent companies and never implemented such basic price tag reduction strategies as mutual development and parts sharing between your company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced to be a water-cooled boxer with front wheel drive, but plagued with problems for instance water leakage and gearbox errors. Lloyd lost money on the car even though it was more expensive compared to its direct competitors.In 1961, the company was forced into liquidation by collectors. Carl Borgward died in July 1963, still insisting the company ended up technically solvent. This proved to be true within the sense that after the actual creditors were paid 100 %, there was still some. 5 million Marks left from the business.
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Accounts of difficulties at Borgward surfaced in an article that appeared throughout Germany's leading news journal, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly crucial of Carl Borgward's small business approach, and included many from the arguments later advanced to go into detail or justify the businesses demise. The widest range associated with cars from any producer in Germany, produced by three till recently operationally autonomous organizations (Borgward, Goliath and Lloyd) has been supporting a turnover connected with only 650 million Grades, placing the overall sales value through the combined Borgward auto firms only in fifth location 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 dropped apart, resulting in massive costs 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 public criticism targeting Borgward right now: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild paper and in television reports. Critical media commentaries also appeared concerning large loans for the Borgward Group provided by the local Landesbank.It is apparent the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses like auto manufacturing use their expensive machines and tools most efficiently as long as they use them constantly with full capacity, but the car market in Europe inside 1950s/60s was more temporary than today, with sales diminishing within Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars at the end of 1960 was more than usual, reflecting ambitious growth plans, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered because of the North American dealers in 1960 (and on the 12, 000 delivered to them) 6, 000 might have for being taken back following a slump in North american demand. (Borgward was not the one European auto maker hit by way of North American slump successful for imported cars throughout 1960. In the same year 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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At the conclusion of December 1960 Borgward approached the bank for a further just one million Marks of credit ratings, 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 associated with critical press comment the particular senators withdrew their ensure. 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 within a still hostile media, Borgward agreed to the particular senate’s terms on four February 1961, thereby averting the bankruptcy with the business.The Bremen Senate likewise insisted on appointing its nominee as chairman on the company’s supervisory board. The man they chose was Johannes Semler whom reports generally describe as 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 occupation. He had studied rules at university and worked initially being a lawyer. The scion of a leading 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 and also 1953. Despite his Hamburg beginnings, Semler was by this time based in Munich, with a network of contacts within the Bavarian establishment that possibly included fellow CSU politician plus 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 because representative of the Bremen senators to help chair the Borgward supervisory mother board would, in retrospect, contribute to the conflict that followed the Borgward personal bankruptcy.
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With 28 July 1961 Semler, as Chairman of the supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided to get a court sanctioned scheme of arrangement enabling the company to continue to trade while as well protecting the interests regarding creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his own, never had any intent of allowing the Borgward auto-businesses to survive.
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