Borgward is usually an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in the particular 1960s. The Borgward group generated four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the company's first new car throughout over 40 years, the BX7 at your 2015 International Motor Show.The origins of Bremen's most significant auto-business return to 1905 with the organization in nearby Varel from the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself involving "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economy then confronting Germany, the business failed to prosper and through 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 possibility greatly to expand your scope of his automobile business, and he took control of it.
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The initial "automobile" Carl Borgward intended was the 1924 Blitzkarren (turbo cart), a sort of small three-wheeled van with 3 hp (1. 5 kW), which was an enormous success already in the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered some of them for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the still 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 in the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and in 1939 the name was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from corporations he had acquired over the years to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business at a time of austerity and rationing. For many purposes the firms would be run as being a single entity, but in a business operated by the man to whom delegation failed to come naturally the growth of legal entities nevertheless added unhelpful layers of complexity with the 1950s and encouraged a broadening with the range which ultimately proved financially unsustainable with the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.Among 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 for the life of the business. 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 becoming a successful Formula Two power unit (which has been also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such while air suspension and programmed transmission, the company had trouble competing available. While larger companies including Opel and VW took benefit from economies of scale and also kept their prices low to find market share, Borgward's cost structure was even above necessary for its size, as it basically operated as four tiny independent companies rather than implemented such basic price reduction strategies as shared development and parts sharing between company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced being a water-cooled boxer with the front wheel drive, but plagued with problems for instance water leakage and gearbox glitches. Lloyd lost money on the car just about the most was more expensive compared to its direct competitors.In 1961, the company was compelled into liquidation by lenders. Carl Borgward died throughout July 1963, still insisting the company was technically solvent. This proved to be true from the sense that after the actual creditors were paid completely, there was still 5. 5 million Marks left from the business.
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Accounts of difficulties at Borgward surfaced within an article that appeared inside Germany's leading news publication, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly essential of Carl Borgward's business approach, and included many in the arguments later advanced to go into detail or justify the business's demise. The widest range regarding cars from any supplier in Germany, produced by three till recently operationally autonomous corporations (Borgward, Goliath and Lloyd) was supporting a turnover associated with only 650 million Grades, placing the overall sales value from the combined Borgward auto corporations only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation involving new and modified types featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") gave rise to components which all too often did not work, broke down or fell into apart, resulting in massive payments for pre-delivery remediation and/or publish delivery warranty work that found their in the past to the company.The December 1960 Spiegel article wasn't the only serious community criticism targeting Borgward currently: suddenly stridently negative (in case more succinct) comments also turned up in the influential mass-market Bild magazine and in television reports. Critical media commentaries additionally appeared concerning large loans towards Borgward Group provided through the local Landesbank.It is apparent which the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses for instance auto manufacturing use the expensive machines and tools most efficiently when they use them constantly with full capacity, but the car market in Europe inside the 1950s/60s was more in season than today, with sales diminishing within Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars towards the end of 1960 was beyond usual, reflecting ambitious growth programs, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered with the North American dealers inside 1960 (and with the 12, 000 delivered to these) 6, 000 might have for being taken back following a slump in American demand. (Borgward was not really the only European auto maker hit by a North American slump widely used for imported cars in the course of 1960. In the same year two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached the bank for a further just one million Marks of credit score, the loan to be backed by way of a guarantee from the Bremen local government which initially the Bremen senators decided provide. However, following the flood connected with critical press comment your senators withdrew their assurance. They now required Carl Borgward to pledge the corporation 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 actual senate’s terms on 5 February 1961, thereby averting the bankruptcy on the business.The Bremen Senate also insisted on appointing its nominee as chairman of the company’s supervisory board. The man they select was Johannes Semler which reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice on the breadth of Semler’s occupation. He had studied legislation at university and worked initially to be a lawyer. The scion of a number one Hamburg political family, in 1945 he had himself been a founding member of the centre-right CSU celebration, and was a member of the Bundestag between 1950 as well as 1953. Despite his Hamburg beginning, Semler was by these times based in Munich, with a network of contacts inside Bavarian establishment that likely included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position in the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators to chair the Borgward supervisory table would, in retrospect, contribute to the controversy that followed the Borgward individual bankruptcy.
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About 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors in 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 business enterprise to continue to trade while as well protecting the interests involving creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of their own, never had any intention of allowing the Borgward auto-businesses to survive.
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