Borgward is an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in this 1960s. The Borgward group produced four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's son, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the corporation's first new car in over 40 years, the BX7 at the particular 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business resume 1905 with the business in nearby Varel of the "Hansa Automobilgesellschaft" and the muse in Bremen itself associated with "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and from the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand this scope of his vehicle business, and he took control of the usb ports.
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The 1st "automobile" Carl Borgward developed was the 1924 Blitzkarren (turbo cart), a sort of teeny three-wheeled van with 3 hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the still three wheeler timber presented synthetic leather bodied 5 as well as 7 hp Goliath Leading. Borgward turned his care about the other businesses in addition to led the development with the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 in addition to in 1939 the brand was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from corporations he had acquired through the years to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business during a period of austerity and rationing. For many purposes the lenders would be run being a single entity, but in a business operated by the man to whom delegation would not come naturally the expansion of legal entities however added unhelpful layers of complexity through the 1950s and encouraged a broadening of the range which eventually proved financially unsustainable while using the sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.One of the top engineers at Borgward coming from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella commenced in 1954. The Isabella would become Borgward's most favored model and remained in production for the life of the firm. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers in the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that was also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such because air suspension and automated transmission, the company had trouble competing available. While larger companies like Opel and VW took advantage of economies of scale as well as kept their prices low to gain market share, Borgward's cost structure was even higher than necessary for its measurement, as it basically run as four tiny independent companies and not implemented such basic price tag reduction strategies as combined development and parts sharing involving the company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced like a water-cooled boxer with front wheel drive, but plagued with problems for instance water leakage and gearbox mistakes. Lloyd lost money on the car even though it was more expensive in comparison with its direct competitors.In 1961, the company was pressured into liquidation by credit card companies. Carl Borgward died with July 1963, still insisting the company ended up technically solvent. This proved to be true from the sense that after this creditors were paid entirely, there was still several. 5 million Marks left over from the business.
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Accounts of difficulties at Borgward surfaced within the article that appeared inside Germany's leading news magazine, “Der Spiegel” on 15 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 the front cover. It was strongly crucial of Carl Borgward's enterprise approach, and included many of the arguments later advanced to spellout or justify the firm's demise. The widest range connected with cars from any company in Germany, produced by three until finally recently operationally autonomous businesses (Borgward, Goliath and Lloyd) was supporting a turnover regarding only 650 million Scars, placing the overall sales value on the combined Borgward auto businesses only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation regarding new and modified designs featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") gave rise to components which all too often did not work, broke down or droped apart, resulting in massive bills for pre-delivery remediation and/or write-up delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article wasn't the only serious open public criticism targeting Borgward presently: suddenly stridently negative (when more succinct) comments also turned up in the influential mass-market Bild magazine and in television reviews. Critical media commentaries additionally appeared concerning large loans to the Borgward Group provided because of the local Landesbank.It is apparent how the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses such as auto manufacturing use his or her expensive machines and tools most efficiently whenever they use them constantly with full capacity, but the car market in Europe in the 1950s/60s was more periodic than today, with sales diminishing throughout Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars right at the end of 1960 was higher than usual, reflecting ambitious growth options, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered through the North American dealers inside 1960 (and on the 12, 000 delivered to these people) 6, 000 might have to get taken back following a slump in American demand. (Borgward was not the only real European auto maker hit by the North American slump in demand for imported cars in the course of 1960. In the same year 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 end of December 1960 Borgward approached the lending company for a further just one million Marks of credit, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators consented to provide. However, following the flood of critical press comment the particular senators withdrew their ensure. 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 the still hostile media, Borgward agreed to the senate’s terms on four February 1961, thereby averting the bankruptcy in the business.The Bremen Senate likewise insisted on appointing its own nominee as chairman with the company’s supervisory board. The man they select was Johannes Semler to whom reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice towards breadth of Semler’s occupation. He had studied rules 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 celebration, and was a person in the Bundestag between 1950 and 1953. Despite his Hamburg sources, Semler was by this time around based in Munich, with a network of contacts from the Bavarian establishment that probably included fellow CSU politician and 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 since the representative of the Bremen senators in order to chair the Borgward supervisory table would, in retrospect, contribute to the conflict that followed the Borgward personal bankruptcy.
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Upon 28 July 1961 Semler, as Chairman of the supervisory board joined the directors of 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 to continue to trade while at the same time protecting the interests of creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his own, never had any objective of allowing the Borgward auto-businesses to survive.
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