Borgward is usually an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in the 1960s. The Borgward group made four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grandson, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from China investment, and unveiled the businesses first new car throughout over 40 years, the BX7 at the 2015 International Motor Show.The origins of Bremen's most significant auto-business go back to 1905 with the establishment in nearby Varel from the "Hansa Automobilgesellschaft" and the foundation in Bremen itself associated with "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to form 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 an opportunity greatly to expand the actual scope of his auto business, and he took control from it.
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The primary "automobile" Carl Borgward intended was the 1924 Blitzkarren (lightning cart), a sort of tiny three-wheeled van with only two 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 some of them for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the however three wheeler timber framed synthetic leather bodied 5 or even 7 hp Goliath Founder. Borgward turned his focus on the other businesses and led the development on the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 along with in 1939 the label was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that stayed 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 the years to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business at a time of austerity and rationing. For many purposes the companies would be run as being a single entity, but in a business operated by way of man to whom delegation didn't come naturally the growth of legal entities even so added unhelpful layers of complexity with the 1950s and encouraged a broadening in the range which ultimately proved financially unsustainable using the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.Among the top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most in-demand model and remained in production with the life of the organization. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that is also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such since air suspension and automatic transmission, the company had trouble competing in the marketplace. While larger companies just like Opel and VW took advantage of economies of scale and kept their prices low to get market share, Borgward's cost structure was even above necessary for its sizing, as it basically controlled as four tiny independent companies and not implemented such basic charge reduction strategies as joint 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 such as water leakage and gearbox glitches. Lloyd lost money on the car 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 within July 1963, still insisting the company have been technically solvent. This proved to be true from the sense that after your creditors were paid in full, there was still several. 5 million Marks left from the business.
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Reports of difficulties at Borgward surfaced in a article that appeared in Germany's leading news magazine, “Der Spiegel” on age 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 important of Carl Borgward's company approach, and included many of the arguments later advanced to explain or justify the firm's demise. The widest range regarding cars from any company in Germany, produced by three till recently operationally autonomous firms (Borgward, Goliath and Lloyd) had been supporting a turnover involving only 650 million Grades, placing the overall sales value on the combined Borgward auto firms only in fifth location 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 improvements ("fast manisch[e] Konstruierwut") offered rise to components which too much did not work, broke down or fell 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 had not been the only serious open criticism targeting Borgward presently: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild newspapers and in television reviews. Critical media commentaries furthermore appeared concerning large loans on the Borgward Group provided through 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 own expensive machines and tools most efficiently if they use them constantly in full capacity, but the car market in Europe within the 1950s/60s was more seasons than today, with sales diminishing within Winter, then peaking in early summer months: Borgward’s inventory of unsold cars at the end of 1960 was beyond usual, reflecting ambitious growth ideas, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered by the North American dealers with 1960 (and with the 12, 000 delivered to these) 6, 000 might have to become taken back following a slump in United states demand. (Borgward was not the one European auto maker hit with a North American slump popular for imported cars while in 1960. In the same 12 months two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached the lending company for a further just one million Marks of credit, the loan to be backed by a guarantee from the Bremen local government which initially the Bremen senators decided to provide. However, following the flood connected with critical press comment this senators withdrew their guarantee. 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 inside a still hostile media, Borgward agreed to this senate’s terms on 4 February 1961, thereby averting the bankruptcy from the business.The Bremen Senate also insisted on appointing its nominee as chairman on the company’s supervisory board. The man they decided 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 career. He had studied rules at university and worked initially as being a lawyer. The scion of a respected Hamburg political family, in 1945 he experienced himself been a founding person in the centre-right CSU party, and was a member of the Bundestag between 1950 along with 1953. Despite his Hamburg sources, Semler was by these times based in Munich, with a network of contacts in the Bavarian establishment that possibly included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position inside Bizone. The appointment of Johannes Semler as the representative of the Bremen senators to chair the Borgward supervisory panel would, in retrospect, contribute to the debate that followed the Borgward chapter 7.
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On 28 July 1961 Semler, as Chairman of this supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the company to continue to trade while concurrently protecting the interests regarding creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of his very own, never had any purpose of allowing the Borgward auto-businesses for you to survive.
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