Borgward is usually an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in your 1960s. The Borgward group created four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the corporation's first new car inside over 40 years, the BX7 at the 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business get back on 1905 with the institution in nearby Varel from the "Hansa Automobilgesellschaft" and the walls in Bremen itself connected with "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 financial situation then confronting Germany, the business failed to prosper and by the late 1920s faced chapter 7. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand this scope of his vehicle business, and he took control than it.
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The initial "automobile" Carl Borgward made was the 1924 Blitzkarren (turbo cart), a sort of small three-wheeled van with 2 hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget purchased for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the even now three wheeler timber framed synthetic leather bodied 5 or 7 hp Goliath Leading. Borgward turned his care about the other businesses along with led the development of the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 along with in 1939 the identify was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from corporations he had acquired in recent times 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 being a single entity, but in a business operated by the man to whom delegation would not come naturally the proliferation of legal entities even so added unhelpful layers of complexity with the 1950s and encouraged a broadening with the range which in the end proved financially unsustainable with the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.On the list of top engineers at Borgward by 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 with the life of the company. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that has been also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such while air suspension and automated transmission, the company had trouble competing out there. While larger companies including Opel and VW took benefit from economies of scale along with kept their prices low to achieve market share, Borgward's cost structure was even above necessary for its dimension, as it basically run as four tiny independent companies rather than implemented such basic price reduction strategies as mutual development and parts sharing between your company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced being a water-cooled boxer with entrance wheel drive, but plagued with problems such as water leakage and gearbox secrets. Lloyd lost money on the car although it was more expensive when compared with its direct competitors.In 1961, the company was required 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 creditors were paid 100 %, there was still several. 5 million Marks left over from the business.
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Reports of difficulties at Borgward surfaced within the article that appeared within Germany's leading news publication, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly essential of Carl Borgward's business approach, and included many on the arguments later advanced to describe or justify the firm's demise. The widest range of cars from any maker in Germany, produced by three until eventually recently operationally autonomous corporations (Borgward, Goliath and Lloyd) has been supporting a turnover connected with only 650 million Marks, placing the overall sales value in the combined Borgward auto corporations only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation connected with 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 dropped apart, resulting in massive payments for pre-delivery remediation and/or publish delivery warranty work that found their in the past to the company.The December 1960 Spiegel article hasn't been the only serious community criticism targeting Borgward currently: suddenly stridently negative (when more succinct) comments also turned up in the influential mass-market Bild paper and in television studies. Critical media commentaries likewise appeared concerning large loans towards Borgward Group provided from the local Landesbank.It is apparent the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses for example auto manufacturing use their own expensive machines and tools most efficiently should they use them constantly at full capacity, but the car market in Europe within the 1950s/60s was more seasonal than today, with sales diminishing within Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars towards the end of 1960 was beyond usual, reflecting ambitious growth plans, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered through the North American dealers with 1960 (and from the 12, 000 delivered to these people) 6, 000 might have being taken back following a slump in United states demand. (Borgward was not really the only European auto maker hit by way of a North American slump widely used for imported cars while in 1960. In the same 12 months two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in Nyc 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 score, the loan to be backed by the guarantee from the Bremen local government which initially the Bremen senators decided to provide. However, following the flood associated with critical press comment the particular senators withdrew their promise. They now required Carl Borgward to pledge the corporation itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported inside a still hostile media, Borgward agreed to this senate’s terms on 5 February 1961, thereby averting the bankruptcy of the business.The Bremen Senate likewise insisted on appointing a unique nominee as chairman on the company’s supervisory board. The man they chose was Johannes Semler which reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice on the breadth of Semler’s occupation. He had studied legislations at university and worked initially as a lawyer. The scion of a respected Hamburg political family, in 1945 he got himself been a founding member of the centre-right CSU party, and was a member of the Bundestag between 1950 along with 1953. Despite his Hamburg roots, Semler was by this time based in Munich, with a network of contacts in the Bavarian establishment that possibly included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position within the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators to be able to chair the Borgward supervisory panel would, in retrospect, contribute to the hot debate that followed the Borgward chapter 7.
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On 28 July 1961 Semler, as Chairman of your supervisory board joined the directors in 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 simultaneously protecting the interests involving creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of her own, never had any purpose of allowing the Borgward auto-businesses for you to survive.
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