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 actual 1960s. The Borgward group made four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grand son, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the corporation's first new car within over 40 years, the BX7 at your 2015 International Motor Show.The origins of Bremen's most significant auto-business go back to 1905 with the business in nearby Varel from the "Hansa Automobilgesellschaft" and the muse in Bremen itself associated with "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 situation 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 a possibility greatly to expand the scope of his automobile business, and he took control of the usb ports.
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The initial "automobile" Carl Borgward made was the 1924 Blitzkarren (lightning cart), a sort of teeny three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 or 7 hp Goliath Pioneer. Borgward turned his focus on the other businesses in addition to led the development with the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 in addition to in 1939 the identify was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from firms he had acquired through the years to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business at a time of austerity and rationing. For many purposes the lenders would be run like a single entity, but in a business operated by a man to whom delegation didn't come naturally the expansion of legal entities nevertheless added unhelpful layers of complexity from the 1950s and encouraged a broadening with the range which in the long run proved financially unsustainable while using sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of the top engineers at Borgward coming from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's most in-demand model and remained in production with the life of the firm. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these learning to be a successful Formula Two power unit (that has been also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such because air suspension and computerized transmission, the company had trouble competing in the marketplace. While larger companies including Opel and VW took good thing about economies of scale along with kept their prices low to achieve market share, Borgward's cost structure was even higher than necessary for its dimensions, as it basically managed as four tiny independent companies and not implemented such basic cost reduction strategies as combined development and parts sharing relating to the company's makes. Borgward suffered quality problems too. 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 snags. Lloyd lost money on the car community . was more expensive compared to its direct competitors.In 1961, the company was required into liquidation by lenders. Carl Borgward died within July 1963, still insisting the company have been technically solvent. This proved to be true from the sense that after the particular creditors were paid fully, there was still some. 5 million Marks remaining from the business.
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Accounts of difficulties at Borgward surfaced in the article that appeared throughout Germany's leading news magazine, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly critical of Carl Borgward's enterprise approach, and included many with the arguments later advanced to spell out or justify the company's demise. The widest range associated with cars from any maker in Germany, produced by three until finally recently operationally autonomous organizations (Borgward, Goliath and Lloyd) was supporting a turnover of only 650 million Scars, placing the overall sales value from your combined Borgward auto companies only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation connected with new and modified products featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") provided rise to components which excessively did not work, broke down or chop down apart, resulting in massive costs for pre-delivery remediation and/or article delivery warranty work that found their long ago to the company.The December 1960 Spiegel article wasn't the only serious public criticism targeting Borgward at the moment: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild classifieds and in television reports. Critical media commentaries likewise appeared concerning large loans to the Borgward Group provided by the local Landesbank.It is apparent that this business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses like auto manufacturing use the expensive machines and tools most efficiently as long as they use them constantly on full capacity, but the car market in Europe inside the 1950s/60s was more seasons than today, with sales diminishing throughout Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was higher than usual, reflecting ambitious growth plans, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered because of the North American dealers throughout 1960 (and of the 12, 000 delivered to these people) 6, 000 might have to become taken back following a slump in American demand. (Borgward was not the one European auto maker hit by way of North American slump successful for imported cars throughout 1960. In the same season two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached the bank for a further a single million Marks of credit ratings, the loan to be backed with a guarantee from the Bremen regional government which initially the Bremen senators opted for provide. However, following the flood involving critical press comment this senators withdrew their guarantee. 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 your senate’s terms on 4 February 1961, thereby averting the bankruptcy on the business.The Bremen Senate additionally insisted on appointing its very own nominee as chairman with the company’s supervisory board. The man they chose was Johannes Semler whom reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice on the breadth of Semler’s job. He had studied law at university and worked initially being a lawyer. The scion of a number one Hamburg political family, in 1945 he received himself been a founding person in the centre-right CSU celebration, and was a member of the Bundestag between 1950 and also 1953. Despite his Hamburg roots, Semler was by now based in Munich, with a network of contacts within the Bavarian establishment that likely included fellow CSU politician along with 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 representative of the Bremen senators in order to chair the Borgward supervisory board would, in retrospect, contribute to the hot debate that followed the Borgward a bankruptcy proceeding.
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In 28 July 1961 Semler, as Chairman of the supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for the 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, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of their own, never had any intent of allowing the Borgward auto-businesses to survive.
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