Borgward can be an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in the 1960s. The Borgward group made four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from China investment, and unveiled the business's first new car in over 40 years, the BX7 at the 2015 International Motor Display.The origins of Bremen's most significant auto-business get back to 1905 with the institution in nearby Varel on the "Hansa Automobilgesellschaft" and the walls in Bremen itself involving "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and through the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand your scope of his car business, and he took control from it.
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The first "automobile" Carl Borgward made was the 1924 Blitzkarren (turbo cart), a sort of small three-wheeled van with 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 most of them for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the still three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Founder. Borgward turned his care about the other businesses as well as led the development of the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 and also in 1939 the brand was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from corporations he had acquired in recent times to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business at any given 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 a man to whom delegation wouldn't come naturally the proliferation of legal entities nonetheless added unhelpful layers of complexity with the 1950s and encouraged a broadening in the range which eventually proved financially unsustainable using the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of many top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's most popular model and remained in production for that life of the organization. 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 was also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such seeing that air suspension and computerized transmission, the company had trouble competing in the marketplace. While larger companies such as Opel and VW took selling point of economies of scale in addition to kept their prices low to achieve market share, Borgward's cost structure was even greater than necessary for its size, as it basically handled as four tiny independent companies and don't implemented such basic charge reduction strategies as combined development and parts sharing between your company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced being a water-cooled boxer with entrance wheel drive, but plagued with problems including water leakage and gearbox glitches. Lloyd lost money on the car though it was more expensive as compared to its direct competitors.In 1961, the company was required into liquidation by loan companies. Carl Borgward died inside July 1963, still insisting the company was technically solvent. This proved to be true within the sense that after the actual creditors were paid fully, there was still 5. 5 million Marks left from the business.
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Studies of difficulties at Borgward surfaced in an article that appeared throughout Germany's leading news publication, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly critical of Carl Borgward's company approach, and included many on the arguments later advanced to spellout or justify the business's demise. The widest range regarding cars from any company in Germany, produced by three until eventually recently operationally autonomous organizations (Borgward, Goliath and Lloyd) has been supporting a turnover regarding only 650 million Grades, placing the overall sales value through the combined Borgward auto companies only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation involving new and modified versions featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") gave rise to components which many times did not work, broke down or fell into apart, resulting in massive payments for pre-delivery remediation and/or submit delivery warranty work that found their in the past to the company.The December 1960 Spiegel article was not the only serious public criticism targeting Borgward at the moment: suddenly stridently negative (in the event more succinct) comments also resulted in in the influential mass-market Bild classifieds and in television reports. Critical media commentaries likewise appeared concerning large loans towards Borgward Group provided through the local Landesbank.It is apparent the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses such as auto manufacturing use the expensive machines and tools most efficiently as long as 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 throughout Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars right at the end of 1960 was more than usual, reflecting ambitious growth options, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered through the North American dealers in 1960 (and on the 12, 000 delivered to all of them) 6, 000 might have to become taken back following a slump in North american demand. (Borgward was not really the only European auto maker hit by way of a North American slump sought after for imported cars while in 1960. In the same 12 months two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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At the conclusion of December 1960 Borgward approached the bank for a further just one million Marks of credit, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators agreed to provide. However, following the flood regarding critical press comment the actual senators withdrew their assure. 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 in the still hostile media, Borgward agreed to the actual senate’s terms on some February 1961, thereby averting the bankruptcy of the business.The Bremen Senate furthermore insisted on appointing a unique nominee as chairman with the company’s supervisory board. The man they decided to go with was Johannes Semler who reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice towards the breadth of Semler’s vocation. He had studied rules at university and worked initially like a lawyer. The scion of a number one Hamburg political family, in 1945 he received himself been a founding member of the centre-right CSU bash, 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 inside the Bavarian establishment that most likely included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position within the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators for you to chair the Borgward supervisory aboard would, in retrospect, contribute to the hot debate that followed the Borgward a bankruptcy proceeding.
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Upon 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling the organization to continue to trade while simultaneously protecting the interests involving creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of her own, never had any objective of allowing the Borgward auto-businesses for you to survive.
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