Borgward is usually an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in this 1960s. The Borgward group produced four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the businesses first new car with over 40 years, the BX7 at the particular 2015 International Motor Present.The origins of Bremen's most significant auto-business go back to 1905 with the institution in nearby Varel from the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself associated with "Namag", maker of the Lloyd car. These two businesses merged in 1914 to make 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 individual bankruptcy. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand this scope of his car business, and he took control than it.
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The very first "automobile" Carl Borgward designed was the 1924 Blitzkarren (lightning cart), a sort of very small three-wheeled van with two hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget purchased for delivery. The Reichspost ordered many 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 & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the however three wheeler timber presented synthetic leather bodied 5 or even 7 hp Goliath Leading. Borgward turned his attention to the other businesses and also led the development in the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 in addition to in 1939 the identify was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from organizations 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 each time of austerity and rationing. For many purposes the firms would be run as a single entity, but in a business operated by a man to whom delegation wouldn't come naturally the expansion of legal entities nevertheless added unhelpful layers of complexity through the 1950s and encouraged a broadening on the range which finally proved financially unsustainable using the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.On the list of top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's hottest model and remained in production for your life of the firm. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that is also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such seeing that air suspension and programmed transmission, the company had trouble competing available. While larger companies such as Opel and VW took good thing about economies of scale and kept their prices low to achieve market share, Borgward's cost structure was even higher than necessary for its dimensions, as it basically run as four tiny independent companies and do not implemented such basic price reduction strategies as combined development and parts sharing between company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced like a water-cooled boxer with top wheel drive, but plagued with problems like water leakage and gearbox secrets. Lloyd lost money on the car community . was more expensive as compared to its direct competitors.In 1961, the company was forced into liquidation by lenders. Carl Borgward died inside July 1963, still insisting the company was technically solvent. This proved to be true from the sense that after the actual creditors were paid in full, there was still four. 5 million Marks remaining from the business.
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Studies of difficulties at Borgward surfaced in an article that appeared throughout Germany's leading news mag, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly essential of Carl Borgward's organization approach, and included many with the arguments later advanced to spell out or justify the business's demise. The widest range of cars from any supplier in Germany, produced by three until eventually recently operationally autonomous corporations (Borgward, Goliath and Lloyd) has been supporting a turnover involving only 650 million Signifies, placing the overall sales value on the combined Borgward auto businesses only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation involving new and modified models featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") presented rise to components which too often did not work, broke down or droped apart, resulting in massive charges for pre-delivery remediation and/or write-up delivery warranty work that found their long ago to the company.The December 1960 Spiegel article wasn't the only serious open 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 studies. Critical media commentaries furthermore appeared concerning large loans for the Borgward Group provided from the local Landesbank.It is apparent which the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses for instance auto manufacturing use their own expensive machines and tools most efficiently when they use them constantly at full capacity, but the car market in Europe in the 1950s/60s was more periodic than today, with sales diminishing throughout Winter, then peaking in early summer months: Borgward’s inventory of unsold cars at the end of 1960 was more than usual, reflecting ambitious growth plans, 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 with 1960 (and of the 12, 000 delivered to these) 6, 000 might have to get taken back following a slump in United states demand. (Borgward was not the only European auto maker hit by way of a North American slump widely used 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 Big apple were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached the financial institution for a further 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 associated with critical press comment your 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 within a still hostile media, Borgward agreed to the particular senate’s terms on several February 1961, thereby averting the bankruptcy in the business.The Bremen Senate likewise insisted on appointing a nominee as chairman with the company’s supervisory board. The man they selected was Johannes Semler who reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice towards breadth of Semler’s profession. He had studied regulation at university and worked initially as being a lawyer. The scion of a top Hamburg political family, in 1945 he had himself been a founding person in the centre-right CSU party, and was a person in the Bundestag between 1950 along with 1953. Despite his Hamburg origins, Semler was by this time around based in Munich, with a network of contacts from the Bavarian establishment that most likely included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position inside the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators to help chair the Borgward supervisory board would, in retrospect, contribute to the dispute that followed the Borgward bankruptcy.
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With 28 July 1961 Semler, as Chairman of your supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the business to continue to trade while concurrently protecting the interests of creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of their own, never had any intention of allowing the Borgward auto-businesses to survive.
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