Borgward is an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in your 1960s. The Borgward group developed four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's grand son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from China investment, and unveiled the business's first new car with over 40 years, the BX7 at the actual 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business return to 1905 with the business in nearby Varel on the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself involving "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 economy then confronting Germany, the business failed to prosper and from the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand the actual scope of his automobile business, and he took control than it.
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The initial "automobile" Carl Borgward made was the 1924 Blitzkarren (lightning cart), a sort of teeny three-wheeled van with 3 hp (1. 5 kW), which was an enormous success on the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the however three wheeler timber presented synthetic leather bodied 5 as well as 7 hp Goliath Leading. Borgward turned his care about the other businesses as well as led the development from the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 in addition to in 1939 the brand was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from businesses he had acquired over the years 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 firms would be run as a single entity, but in a business operated by way of man to whom delegation didn't come naturally the spreading of legal entities on the other hand added unhelpful layers of complexity from the 1950s and encouraged a broadening on the range which ultimately proved financially unsustainable using the sales volumes achievable. In 1949 company introduced 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 started out in 1954. The Isabella would become Borgward's most in-demand model and remained in production for the life of the firm. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (which has been also used by many 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 like Opel and VW took selling point of economies of scale as well as kept their prices low to achieve market share, Borgward's cost structure was even higher than necessary for its dimensions, as it basically controlled as four tiny independent companies and not implemented such basic expense reduction strategies as shared development and parts sharing between the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced being a water-cooled boxer with top wheel drive, but plagued with problems including water leakage and gearbox secrets. Lloyd lost money on the car although it was more expensive than its direct competitors.In 1961, the company was compelled into liquidation by collectors. Carl Borgward died in 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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Reviews of difficulties at Borgward surfaced within the article that appeared in Germany's leading news journal, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly vital of Carl Borgward's enterprise approach, and included many with the arguments later advanced to spellout or justify the corporation's demise. The widest range involving cars from any producer in Germany, produced by three till recently operationally autonomous companies (Borgward, Goliath and Lloyd) was supporting a turnover involving only 650 million Marks, placing the overall sales value on the combined Borgward auto corporations only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation regarding new and modified products featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") provided rise to components which too often did not work, broke down or fell into apart, resulting in massive charges for pre-delivery remediation and/or post delivery warranty work that found their long ago to the company.The December 1960 Spiegel article has not been the only serious open public criticism targeting Borgward right now: suddenly stridently negative (in case more succinct) comments also resulted in in the influential mass-market Bild paper and in television reports. Critical media commentaries additionally appeared concerning large loans towards the Borgward Group provided with the local Landesbank.It is apparent that the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses such as auto manufacturing use their expensive machines and tools most efficiently if they use them constantly with full capacity, but the car market in Europe within the 1950s/60s was more periodic than today, with sales diminishing within Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars right at the end of 1960 was greater than usual, reflecting ambitious growth plans, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that in 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 be taken back following a slump in North american demand. (Borgward was not the only European auto maker hit with a North American slump successful for imported cars through 1960. In the same yr 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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By the end of December 1960 Borgward approached the financial institution for a further one million Marks of credit score, the loan to be backed by a guarantee from the Bremen regional government which initially the Bremen senators decided to provide. However, following the flood involving critical press comment the particular senators withdrew their promise. They now required Carl Borgward to pledge the business 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 5 February 1961, thereby averting the bankruptcy from the business.The Bremen Senate also insisted on appointing its own nominee as chairman of the company’s supervisory board. The man they decided to go with was Johannes Semler which reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice for the breadth of Semler’s occupation. He had studied law at university and worked initially as a lawyer. The scion of a top Hamburg political family, in 1945 he acquired 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 sources, Semler was by this time based in Munich, with a network of contacts inside Bavarian establishment that most likely included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position inside the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators to chair the Borgward supervisory table would, in retrospect, contribute to the dispute that followed the Borgward chapter 7.
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In 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while as well protecting the interests connected with creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of his own, never had any purpose of allowing the Borgward auto-businesses to help survive.
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