Borgward is an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in your 1960s. The Borgward group generated four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's grandson, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the company's first new car in over 40 years, the BX7 at the 2015 International Motor Present.The origins of Bremen's most significant auto-business return to 1905 with the business in nearby Varel from the "Hansa Automobilgesellschaft" and the foundation in Bremen itself of "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 status then confronting Germany, the business failed to prosper and with the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand this scope of his auto business, and he took control than it.
The initial "automobile" Carl Borgward developed was the 1924 Blitzkarren (super cart), a sort of small three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget ordered 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 & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the however three wheeler timber presented synthetic leather bodied 5 as well as 7 hp Goliath Master. Borgward turned his awareness of the other businesses as well as led the development with the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 and also in 1939 the title 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 many 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 how much steel allocated to his business each time of austerity and rationing. For many purposes the firms would be run like a single entity, but in a business operated by way of a man to whom delegation didn't come naturally the proliferation of legal entities nevertheless added unhelpful layers of complexity over the 1950s and encouraged a broadening of the range which in the end proved financially unsustainable while using sales volumes achievable. In 1949 company shown 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 started in 1954. The Isabella would become Borgward's most widely used model and remained in production for that life of the corporation. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers in the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (which has been also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such because air suspension and automatic transmission, the company had trouble competing in the marketplace. While larger companies like Opel and VW took good thing about economies of scale and kept their prices low to realize market share, Borgward's cost structure was even more than necessary for its sizing, as it basically controlled as four tiny independent companies and do not implemented such basic price reduction strategies as shared development and parts sharing relating to the company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced as being a water-cooled boxer with the front wheel drive, but plagued with problems such as water leakage and gearbox errors. Lloyd lost money on the car though it was more expensive in comparison with its direct competitors.In 1961, the company was required into liquidation by credit card companies. Carl Borgward died throughout July 1963, still insisting the company have been technically solvent. This proved to be true in the sense that after the particular creditors were paid fully, there was still four. 5 million Marks left from the business.
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Reports of difficulties at Borgward surfaced within the article that appeared in Germany's leading news journal, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly important of Carl Borgward's small business approach, and included many from the arguments later advanced to explain or justify the firm's demise. The widest range associated with cars from any company in Germany, produced by three until eventually recently operationally autonomous firms (Borgward, Goliath and Lloyd) ended up being supporting a turnover involving only 650 million Grades, placing the overall sales value from your combined Borgward auto businesses only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation involving new and modified products featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") afforded rise to components which excessively did not work, broke down or dropped apart, resulting in massive payments for pre-delivery remediation and/or write-up delivery warranty work that found their in the past to the company.The December 1960 Spiegel article wasn't the only serious open public criticism targeting Borgward at the moment: suddenly stridently negative (when more succinct) comments also turned up in the influential mass-market Bild magazine and in television reviews. Critical media commentaries furthermore appeared concerning large loans towards the Borgward Group provided with the local Landesbank.It is apparent that the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses for instance auto manufacturing use his or her expensive machines and tools most efficiently should they use them constantly from full capacity, but the car market in Europe inside 1950s/60s was more temporary than today, with sales diminishing inside Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars at the conclusion 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 on the 15, 000 Borgward cars ordered with the North American dealers within 1960 (and with the 12, 000 delivered to these) 6, 000 might have to be taken back following a slump in Us demand. (Borgward was not the sole European auto maker hit by way of a North American slump popular for imported cars throughout 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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Right at the end of December 1960 Borgward approached the bank for a further one particular million Marks of credit ratings, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators decided provide. However, following the flood connected with critical press comment this senators withdrew their guarantee. 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 within a still hostile media, Borgward agreed to the senate’s terms on several February 1961, thereby averting the bankruptcy of the business.The Bremen Senate likewise insisted on appointing its very own nominee as chairman in the company’s supervisory board. The man they decided to go with was Johannes Semler whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice to the breadth of Semler’s occupation. He had studied regulation at university and worked initially being a lawyer. The scion of a number one Hamburg political family, in 1945 he got himself been a founding member of the centre-right CSU gathering, and was a person in the Bundestag between 1950 in addition to 1953. Despite his Hamburg origins, Semler was by on this occasion based in Munich, with a network of contacts inside the Bavarian establishment that likely 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 as the representative of the Bremen senators to help chair the Borgward supervisory mother board 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 that establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while while doing so protecting the interests regarding creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of his very own, never had any objective of allowing the Borgward auto-businesses for you to survive.
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