Borgward can be an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in this 1960s. The Borgward group produced four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from China investment, and unveiled the corporation's first new car with over 40 years, the BX7 at the particular 2015 International Motor Show.The origins of Bremen's most significant auto-business go back to 1905 with the business in nearby Varel of the "Hansa Automobilgesellschaft" and the muse in Bremen itself regarding "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 economy then confronting Germany, the business failed to prosper and because of the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand the scope of his car business, and he took control from it.
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The initial "automobile" Carl Borgward created 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 ordered for delivery. The Reichspost ordered some of them for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the nonetheless three wheeler timber presented synthetic leather bodied 5 or even 7 hp Goliath Founder. Borgward turned his focus on the other businesses and led the development with the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and in 1939 the identify was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from organizations 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 any given time of austerity and rationing. For many purposes the businesses 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 of the range which ultimately proved financially unsustainable while using sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.One of several top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's most favored model and remained in production for your life of the company. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (which was also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such since air suspension and automatic transmission, the company had trouble competing in the market. While larger companies similar to Opel and VW took selling point of economies of scale along with kept their prices low to get market share, Borgward's cost structure was even higher than necessary for its dimension, as it basically controlled as four tiny independent companies and not implemented such basic price tag reduction strategies as joint development and parts sharing relating to the company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced to be a water-cooled boxer with top wheel drive, but plagued with problems such as water leakage and gearbox glitches. Lloyd lost money on the car though it was more expensive when compared with its direct competitors.In 1961, the company was compelled into liquidation by loan companies. Carl Borgward died throughout July 1963, still insisting the company had been technically solvent. This proved to be true in the sense that after your creditors were paid in full, there was still 4. 5 million Marks remaining from the business.
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Accounts of difficulties at Borgward surfaced in the article that appeared in Germany's leading news mag, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly crucial of Carl Borgward's enterprise approach, and included many of the arguments later advanced to describe or justify the corporation's demise. The widest range associated with cars from any producer in Germany, produced by three right up until recently operationally autonomous corporations (Borgward, Goliath and Lloyd) seemed to be supporting a turnover associated with only 650 million Represents, placing the overall sales value in the combined Borgward auto businesses only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation regarding new and modified designs featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") provided rise to components which excessively did not work, broke down or droped apart, resulting in massive bills 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 open public criticism targeting Borgward right now: suddenly stridently negative (in the event more succinct) comments also resulted in in the influential mass-market Bild newspapers and in television reviews. Critical media commentaries in addition appeared concerning large loans to the Borgward Group provided through the local Landesbank.It is apparent the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses for example auto manufacturing use the expensive machines and tools most efficiently if they use them constantly in full capacity, but the car market in Europe from the 1950s/60s was more seasonal than today, with sales diminishing throughout Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars towards the end of 1960 was more than usual, reflecting ambitious growth strategies, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered by the North American dealers inside 1960 (and with the 12, 000 delivered to these people) 6, 000 might have for being taken back following a slump in North american demand. (Borgward was not really the only European auto maker hit by a North American slump in demand for imported cars during 1960. In the same yr two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached the financial institution for a further 1 million Marks of credit ratings, the loan to be backed by a guarantee from the Bremen regional government which initially the Bremen senators agreed to provide. However, following the flood connected with critical press comment this senators withdrew their assure. They now required Carl Borgward to pledge the company itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported in a still hostile media, Borgward agreed to the particular senate’s terms on several February 1961, thereby averting the bankruptcy from the business.The Bremen Senate additionally insisted on appointing a unique nominee as chairman with the company’s supervisory board. The man they selected was Johannes Semler who reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice towards breadth of Semler’s profession. He had studied regulation at university and worked initially like a lawyer. The scion of a top Hamburg political family, in 1945 he experienced himself been a founding person in the centre-right CSU bash, and was a member of the Bundestag between 1950 and 1953. Despite his Hamburg beginnings, Semler was by now based in Munich, with a network of contacts within the Bavarian establishment that almost certainly included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position within the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators to chair the Borgward supervisory aboard would, in retrospect, contribute to the hot debate that followed the Borgward individual bankruptcy.
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On 28 July 1961 Semler, as Chairman of this supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the company to continue to trade while concurrently protecting the interests connected with creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of her own, never had any intent of allowing the Borgward auto-businesses to survive.
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