Borgward is surely an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in the particular 1960s. The Borgward group generated four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the firm's first new car with over 40 years, the BX7 at this 2015 International Motor Indicate.The origins of Bremen's most significant auto-business get back to 1905 with the institution in nearby Varel of the "Hansa Automobilgesellschaft" and the muse in Bremen itself of "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economic situation then confronting Germany, the business failed to prosper and because of the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the actual scope of his automotive business, and he took control of it.
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The very first "automobile" Carl Borgward intended was the 1924 Blitzkarren (turbo cart), a sort of teeny three-wheeled van with 3 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 many of them for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the still three wheeler timber presented synthetic leather bodied 5 as well as 7 hp Goliath Master. Borgward turned his attention to the other businesses as well as led the development on the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 and also in 1939 the name was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from businesses he had acquired over time to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business each time of austerity and rationing. For many purposes the companies would be run being a single entity, but in a business operated by a man to whom delegation didn't come naturally the growth of legal entities on the other hand added unhelpful layers of complexity with the 1950s and encouraged a broadening from the range which eventually proved financially unsustainable while using sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of several 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 popular 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 within the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (which was also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such seeing that air suspension and automated transmission, the company had trouble competing in the market. While larger companies including Opel and VW took good thing about economies of scale in addition to kept their prices low to realize market share, Borgward's cost structure was even more than necessary for its measurement, as it basically managed as four tiny independent companies rather than implemented such basic cost reduction strategies as mutual development and parts sharing between company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced as being a water-cooled boxer with front wheel drive, but plagued with problems like water leakage and gearbox snags. Lloyd lost money on the car community . was more expensive compared to its direct competitors.In 1961, the company was pushed into liquidation by loan companies. Carl Borgward died within July 1963, still insisting the company had been technically solvent. This proved to be true in the sense that after this creditors were paid completely, there was still 5. 5 million Marks left over from the business.
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Stories of difficulties at Borgward surfaced in an article that appeared inside Germany's leading news mag, “Der Spiegel” on 18 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 top cover. It was strongly important of Carl Borgward's business approach, and included many in the arguments later advanced to describe or justify the businesses demise. The widest range connected with cars from any company in Germany, produced by three until recently operationally autonomous companies (Borgward, Goliath and Lloyd) was supporting a turnover involving only 650 million Represents, placing the overall sales value through the combined Borgward auto corporations only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation connected with new and modified products featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") gave rise to components which too much did not work, broke down or droped apart, resulting in massive expenses for pre-delivery remediation and/or publish delivery warranty work that found their way back to the company.The December 1960 Spiegel article wasn't the only serious public criticism targeting Borgward at this time: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild paper and in television reports. Critical media commentaries likewise appeared concerning large loans towards the Borgward Group provided through the local Landesbank.It is apparent how the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses like auto manufacturing use his or her expensive machines and tools most efficiently as long as they use them constantly at full capacity, but the car market in Europe inside the 1950s/60s was more temporary than today, with sales diminishing with Winter, then peaking in early summer months: Borgward’s inventory of unsold cars at the end of 1960 was above 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 from the North American dealers in 1960 (and from the 12, 000 delivered to these individuals) 6, 000 might have to get taken back following a slump in United states demand. (Borgward was not the sole European auto maker hit by the North American slump popular for imported cars during 1960. In the same 12 months two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached the financial institution for a further just one million Marks of credit, the loan to be backed by way of guarantee from the Bremen regional government which initially the Bremen senators agreed to provide. However, following the flood involving critical press comment this senators withdrew their assure. They now required Carl Borgward to pledge the corporation itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in a very 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 likewise insisted on appointing its very own nominee as chairman in the company’s supervisory board. The man they selected was Johannes Semler who reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice for the breadth of Semler’s occupation. He had studied law at university and worked initially as being a lawyer. The scion of a number one Hamburg political family, in 1945 he got himself been a founding person in the centre-right CSU bash, and was a person in the Bundestag between 1950 in addition to 1953. Despite his Hamburg roots, Semler was by this time around based in Munich, with a network of contacts inside 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 inside a top administrative position from the Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators to help chair the Borgward supervisory panel would, in retrospect, contribute to the hot debate that followed the Borgward individual bankruptcy.
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In 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors from the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided to get a court sanctioned scheme of arrangement enabling the organization to continue to trade while simultaneously protecting the interests involving creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of his or her own, never had any purpose of allowing the Borgward auto-businesses in order to survive.
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