Borgward is an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in the particular 1960s. The Borgward group generated four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has considering 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 business's first new car in over 40 years, the BX7 at the particular 2015 International Motor Indicate.The origins of Bremen's most significant auto-business resume 1905 with the institution in nearby Varel of the "Hansa Automobilgesellschaft" and the muse in Bremen itself of "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and because of the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the actual scope of his automotive business, and he took control of it.
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The 1st "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 already in the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the even now three wheeler timber framed synthetic leather bodied 5 or 7 hp Goliath Pioneer. Borgward turned his focus on the other businesses and led the development on 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 and then the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from businesses he had acquired over the years to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business at any given time of austerity and rationing. For many purposes the companies would be run as a single entity, but in a business operated by a man to whom delegation failed to come naturally the proliferation of legal entities however added unhelpful layers of complexity from the 1950s and encouraged a broadening of the range which eventually proved financially unsustainable while using the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of many top engineers at Borgward 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 popular model and remained in production for your life of the business. In 1960 the Borgward P100 ended up being 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 becoming a successful Formula Two power unit (which was also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such since air suspension and intelligent transmission, the company had trouble competing in the marketplace. While larger companies like Opel and VW took selling point of economies of scale along with kept their prices low to find market share, Borgward's cost structure was even beyond necessary for its size, as it basically run as four tiny independent companies and not implemented such basic charge reduction strategies as joint development and parts sharing relating to the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced being a water-cooled boxer with the front wheel drive, but plagued with problems for instance water leakage and gearbox secrets. Lloyd lost money on the car even though it was more expensive compared to its direct competitors.In 1961, the company was pressured into liquidation by credit card companies. Carl Borgward died throughout July 1963, still insisting the company were being technically solvent. This proved to be true inside sense that after the actual creditors were paid 100 %, there was still several. 5 million Marks left over from the business.
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Reviews of difficulties at Borgward surfaced in the article that appeared throughout Germany's leading news journal, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly essential of Carl Borgward's company approach, and included many with the arguments later advanced to describe or justify the businesses demise. The widest range involving cars from any supplier in Germany, produced by three until finally recently operationally autonomous firms (Borgward, Goliath and Lloyd) has been supporting a turnover involving only 650 million Grades, placing the overall sales value through the combined Borgward auto firms only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation connected with new and modified types featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") gave rise to components which excessively did not work, broke down or fell into apart, resulting in massive expenses for pre-delivery remediation and/or post delivery warranty work that found their way back to the company.The December 1960 Spiegel article wasn't the only serious public criticism targeting Borgward right now: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild newspapers and in television stories. Critical media commentaries in addition appeared concerning large loans towards Borgward Group provided because of the local Landesbank.It is apparent which the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses like auto manufacturing use his or her expensive machines and tools most efficiently if they use them constantly at full capacity, but the car market in Europe inside 1950s/60s was more seasonal than today, with sales diminishing with Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was more than usual, reflecting ambitious growth programs, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered through the North American dealers inside 1960 (and with the 12, 000 delivered to all of them) 6, 000 might have for being taken back following a slump in North american demand. (Borgward was not the only European auto maker hit by way of a North American slump popular for imported cars throughout 1960. In the same 12 months two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in Big apple were overcrowded with unsold Dauphines.
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At the conclusion of December 1960 Borgward approached the lender for a further 1 million Marks of credit, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators decided provide. However, following the flood involving critical press comment the senators withdrew their promise. They now required Carl Borgward to pledge the organization 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 this senate’s terms on four February 1961, thereby averting the bankruptcy with the business.The Bremen Senate in addition insisted on appointing a unique nominee as chairman on the company’s supervisory board. The man they select 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 towards the breadth of Semler’s profession. He had studied law at university and worked initially to be a lawyer. The scion of a respected Hamburg political family, in 1945 he received himself been a founding member of the centre-right CSU gathering, and was a member of the Bundestag between 1950 and 1953. Despite his Hamburg beginnings, Semler was by now based in Munich, with a network of contacts from the Bavarian establishment that 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 in the Bizone. The appointment of Johannes Semler because representative of the Bremen senators in order to chair the Borgward supervisory mother board would, in retrospect, contribute to the conflict that followed the Borgward individual bankruptcy.
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On 28 July 1961 Semler, as Chairman of the supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings to the establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling the business to continue to trade while simultaneously protecting the interests of creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of his or her own, never had any objective of allowing the Borgward auto-businesses to help survive.
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