Borgward can be an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in your 1960s. The Borgward group produced four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the firm's first new car within over 40 years, the BX7 at the 2015 International Motor Present.The origins of Bremen's most significant auto-business get back to 1905 with the business in nearby Varel of the "Hansa Automobilgesellschaft" and the muse in Bremen itself of "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and from the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the actual scope of his automobile business, and he took control from it.
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The primary "automobile" Carl Borgward created was the 1924 Blitzkarren (lightning cart), a sort of small three-wheeled van with only two hp (1. 5 kW), which was an enormous success available 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 home of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the nevertheless three wheeler timber framed synthetic leather bodied 5 or maybe 7 hp Goliath Founder. Borgward turned his attention to the other businesses in addition to led the development on the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 and also in 1939 the label was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from firms he had acquired over time to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business at a time of austerity and rationing. For many purposes the companies would be run to be a single entity, but in a business operated by way of man to whom delegation wouldn't come naturally the growth of legal entities nonetheless added unhelpful layers of complexity with the 1950s and encouraged a broadening with the range which finally proved financially unsustainable using the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of the top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella commenced in 1954. The Isabella would become Borgward's most popular model and remained in production with the life of the organization. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that has been also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such since air suspension and intelligent transmission, the company had trouble competing available. While larger companies including Opel and VW took benefit from economies of scale as well as kept their prices low to gain market share, Borgward's cost structure was even beyond necessary for its measurement, as it basically operated as four tiny independent companies and never implemented such basic price reduction strategies as mutual development and parts sharing relating to the company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced like a water-cooled boxer with entrance wheel drive, but plagued with problems like water leakage and gearbox errors. Lloyd lost money on the car even though it was more expensive as compared to its direct competitors.In 1961, the company was compelled into liquidation by collectors. Carl Borgward died inside July 1963, still insisting the company have been technically solvent. This proved to be true inside the sense that after the actual creditors were paid fully, there was still four. 5 million Marks left over from the business.
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Stories of difficulties at Borgward surfaced within the article that appeared with Germany's leading news journal, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places repetitive 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 organization approach, and included many with the arguments later advanced to explain or justify the company's demise. The widest range of cars from any maker in Germany, produced by three until eventually recently operationally autonomous companies (Borgward, Goliath and Lloyd) ended up being supporting a turnover regarding only 650 million Represents, 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 with an increasingly manic proliferation involving new and modified types featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") gave rise to components which too much did not work, broke down or dropped apart, resulting in massive costs for pre-delivery remediation and/or submit delivery warranty work that found their made use of to the company.The December 1960 Spiegel article has not been the only serious open public criticism targeting Borgward presently: suddenly stridently negative (in the event more succinct) comments also resulted in in the influential mass-market Bild classifieds and in television reviews. Critical media commentaries additionally appeared concerning large loans towards Borgward Group provided through the local Landesbank.It is apparent that the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses including auto manufacturing use their own expensive machines and tools most efficiently whenever they use them constantly in full capacity, but the car market in Europe from the 1950s/60s was more seasonal than today, with sales diminishing throughout Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was more than usual, reflecting ambitious growth programs, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered through the North American dealers throughout 1960 (and of the 12, 000 delivered to them) 6, 000 might have for being taken back following a slump in American demand. (Borgward was not really the only European auto maker hit by the North American slump successful for imported cars during 1960. In the same 12 months two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached the financial institution for a further just one million Marks of credit score, the loan to be backed by a guarantee from the Bremen local government which initially the Bremen senators consented to provide. However, following the flood of critical press comment the actual senators withdrew their guarantee. They now required Carl Borgward to pledge the company itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported within a still hostile media, Borgward agreed to your senate’s terms on 4 February 1961, thereby averting the bankruptcy with the business.The Bremen Senate in addition insisted on appointing a unique nominee as chairman in the company’s supervisory board. The man they select was Johannes Semler which reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice on the breadth of Semler’s career. He had studied rules at university and worked initially to be a lawyer. The scion of a leading Hamburg political family, in 1945 he had himself been a founding person in the centre-right CSU celebration, and was a person in the Bundestag between 1950 along with 1953. Despite his Hamburg beginnings, Semler was by these times based in Munich, with a network of contacts in the Bavarian establishment that probably included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position inside Bizone. The appointment of Johannes Semler because the 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 a bankruptcy proceeding.
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About 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors from 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 as well protecting the interests regarding creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his very own, never had any goal of allowing the Borgward auto-businesses to survive.
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