Borgward is an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in the particular 1960s. The Borgward group produced four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's son, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from China investment, and unveiled the corporation's first new car throughout over 40 years, the BX7 at the particular 2015 International Motor Display.The origins of Bremen's most significant auto-business get back to 1905 with the place in nearby Varel with 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 the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and because of the late 1920s faced a bankruptcy proceeding. 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 automotive business, and he took control of computer.
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The very first "automobile" Carl Borgward intended was the 1924 Blitzkarren (turbo cart), a sort of little three-wheeled van with 2 hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 or maybe 7 hp Goliath Pioneer. Borgward turned his attention to the other businesses in addition to led the development with the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 and in 1939 the label was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from corporations he had acquired over the years to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business at any given time of austerity and rationing. For many purposes the companies would be run to be a single entity, but in a business operated by way of a man to whom delegation did not come naturally the proliferation of legal entities however added unhelpful layers of complexity with the 1950s and encouraged a broadening on the range which in the long run proved financially unsustainable with the sales volumes achievable. In 1949 company introduced 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 commenced in 1954. The Isabella would become Borgward's most favored model and remained in production for the life of the corporation. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (which was also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such because air suspension and programmed transmission, the company had trouble competing in the marketplace. While larger companies similar to Opel and VW took good thing about economies of scale as well as kept their prices low to gain market share, Borgward's cost structure was even greater than necessary for its sizing, as it basically handled as four tiny independent companies and not implemented such basic cost reduction strategies as shared development and parts sharing involving the company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced like a water-cooled boxer with entrance wheel drive, but plagued with problems for instance water leakage and gearbox snags. Lloyd lost money on the car even though it was more expensive in comparison with its direct competitors.In 1961, the company was forced into liquidation by credit card companies. Carl Borgward died inside 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 completely, there was still 4. 5 million Marks remaining from the business.
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Studies of difficulties at Borgward surfaced in the article that appeared inside Germany's leading news publication, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly crucial of Carl Borgward's organization approach, and included many in the arguments later advanced to describe or justify the business's demise. The widest range regarding cars from any maker in Germany, produced by three until finally recently operationally autonomous businesses (Borgward, Goliath and Lloyd) was supporting a turnover of only 650 million Marks, placing the overall sales value on 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 of new and modified models featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") presented rise to components which too often did not work, broke down or chop down apart, resulting in massive costs for pre-delivery remediation and/or submit delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article has not been the only serious community criticism targeting Borgward presently: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild paper and in television studies. Critical media commentaries furthermore appeared concerning large loans towards the Borgward Group provided through the local Landesbank.It is apparent that this 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 whenever they use them constantly at full capacity, but the car market in Europe from the 1950s/60s was more temporary than today, with sales diminishing within Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars right at the end of 1960 was beyond usual, reflecting ambitious growth plans, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered with the North American dealers throughout 1960 (and from the 12, 000 delivered to them) 6, 000 might have for being taken back following a slump in United states demand. (Borgward was not the only European auto maker hit by a North American slump popular 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 New york were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached the financial institution for a further just one million Marks of credit history, the loan to be backed with a guarantee from the Bremen regional government which initially the Bremen senators consented to provide. However, following the flood regarding critical press comment the particular senators withdrew their promise. They now required Carl Borgward to pledge the business itself to the state in return 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 four February 1961, thereby averting the bankruptcy on the business.The Bremen Senate also insisted on appointing a nominee as chairman in the company’s supervisory board. The man they decided to go with was Johannes Semler whom reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice towards breadth of Semler’s vocation. He had studied legislations at university and worked initially like a lawyer. The scion of a respected 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 as well as 1953. Despite his Hamburg beginning, 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 in the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators in order to chair the Borgward supervisory table would, in retrospect, contribute to the hot debate that followed the Borgward chapter 7.
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Upon 28 July 1961 Semler, as Chairman of the supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while simultaneously protecting the interests connected with creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of his very own, never had any purpose of allowing the Borgward auto-businesses to be able to survive.
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