Borgward is an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in the particular 1960s. The Borgward group developed four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has given that 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 corporation's first new car inside over 40 years, the BX7 at the actual 2015 International Motor Indicate.The origins of Bremen's most significant auto-business get back on 1905 with the establishment in nearby Varel of the "Hansa Automobilgesellschaft" and the walls in Bremen itself associated with "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 in order 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 because of the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand the particular scope of his automotive business, and he took control of computer.
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The first "automobile" Carl Borgward made was the 1924 Blitzkarren (turbo cart), a sort of tiny three-wheeled van with only two 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 some of them for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the even now three wheeler timber framed synthetic leather bodied 5 or even 7 hp Goliath Leading. Borgward turned his focus on the other businesses and led the development in the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 along with in 1939 the identify was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that remained 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 independent companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business during a period of austerity and rationing. For many purposes the businesses would be run as being a single entity, but in a business operated by way of a man to whom delegation didn't come naturally the expansion of legal entities however added unhelpful layers of complexity throughout the 1950s and encouraged a broadening of the range which ultimately proved financially unsustainable with all the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of many top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most popular model and remained in production for that life of the corporation. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (that was also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such seeing that air suspension and automatic transmission, the company had trouble competing in the market. While larger companies including Opel and VW took benefit of economies of scale and kept their prices low to gain market share, Borgward's cost structure was even greater than necessary for its dimension, as it basically operated as four tiny independent companies rather than implemented such basic expense reduction strategies as combined development and parts sharing involving the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced as being a water-cooled boxer with the front wheel drive, but plagued with problems like water leakage and gearbox mistakes. Lloyd lost money on the car although it was more expensive than its direct competitors.In 1961, the company was required into liquidation by lenders. Carl Borgward died within July 1963, still insisting the company had been technically solvent. This proved to be true from the sense that after the creditors were paid entirely, there was still several. 5 million Marks left from the business.
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Accounts of difficulties at Borgward surfaced in an article that appeared inside Germany's leading news journal, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly critical of Carl Borgward's enterprise approach, and included many from the arguments later advanced to describe or justify the business's demise. The widest range associated with cars from any maker in Germany, produced by three right up until recently operationally autonomous organizations (Borgward, Goliath and Lloyd) was supporting a turnover of only 650 million Marks, placing the overall sales value from your combined Borgward auto organizations only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation connected with new and modified versions 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 submit delivery warranty work that found their way back to the company.The December 1960 Spiegel article wasn't the only serious community criticism targeting Borgward at the moment: suddenly stridently negative (in the event more succinct) comments also turned up in the influential mass-market Bild newspapers and in television stories. Critical media commentaries additionally appeared concerning large loans to the Borgward Group provided because of the local Landesbank.It is apparent that the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses such as auto manufacturing use their expensive machines and tools most efficiently whenever they use them constantly in full capacity, but the car market in Europe inside the 1950s/60s was more temporary than today, with sales diminishing inside Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was beyond usual, reflecting ambitious growth programs, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered from the North American dealers within 1960 (and with the 12, 000 delivered to them) 6, 000 might have to get taken back following a slump in United states demand. (Borgward was not the only real European auto maker hit by the North American slump in demand for imported cars throughout 1960. In the same yr two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached the bank for a further one million Marks of credit history, the loan to be backed by way of a guarantee from the Bremen regional government which initially the Bremen senators consented to provide. However, following the flood involving critical press comment the senators withdrew their assure. 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 in the still hostile media, Borgward agreed to the senate’s terms on some February 1961, thereby averting the bankruptcy with the business.The Bremen Senate additionally insisted on appointing its very own nominee as chairman with the company’s supervisory board. The man they selected was Johannes Semler to whom reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice for the breadth of Semler’s vocation. He had studied legislations at university and worked initially like a lawyer. The scion of a leading Hamburg political family, in 1945 he received himself been a founding person in the centre-right CSU get together, 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 within the Bavarian establishment that probably included fellow CSU politician along with 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 for the reason that representative of the Bremen senators to help chair the Borgward supervisory mother board would, in retrospect, contribute to the controversy that followed the Borgward a bankruptcy proceeding.
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With 28 July 1961 Semler, as Chairman of the supervisory board joined the directors from the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the organization to continue to trade while at the same time protecting the interests associated with creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of their own, never had any objective of allowing the Borgward auto-businesses for you to survive.
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