Borgward can be an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in your 1960s. The Borgward group created four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grandson, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the company's first new car inside 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 with the "Hansa Automobilgesellschaft" and the walls in Bremen itself connected with "Namag", maker of the Lloyd car. These two businesses merged in 1914 to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economy then confronting Germany, the business failed to prosper and by the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand the particular scope of his auto business, and he took control than it.
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The 1st "automobile" Carl Borgward designed 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 got it for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the however three wheeler timber presented synthetic leather bodied 5 or perhaps 7 hp Goliath Leader. Borgward turned his awareness of the other businesses in addition to led the development with the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 and also in 1939 the brand was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from organizations he had acquired over the years to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business each time of austerity and rationing. For many purposes the firms would be run as being a single entity, but in a business operated by way of man to whom delegation wouldn't come naturally the spreading of legal entities nonetheless added unhelpful layers of complexity through the 1950s and encouraged a broadening from the range which in the end proved financially unsustainable while using sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.Among 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 favored model and remained in production for your life of the business. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (which was also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such seeing that air suspension and intelligent transmission, the company had trouble competing in the market. While larger companies such as Opel and VW took advantage of economies of scale along with kept their prices low to realize market share, Borgward's cost structure was even greater than necessary for its dimensions, as it basically controlled as four tiny independent companies and never implemented such basic cost reduction strategies as shared development and parts sharing involving the company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced like a water-cooled boxer with entry wheel drive, but plagued with problems for instance water leakage and gearbox snags. Lloyd lost money on the car even though it was more expensive than its direct competitors.In 1961, the company was pushed into liquidation by collectors. Carl Borgward died within July 1963, still insisting the company ended up technically solvent. This proved to be true from the sense that after the particular creditors were paid fully, there was still some. 5 million Marks remaining from the business.
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Reviews of difficulties at Borgward surfaced in an article that appeared in Germany's leading news journal, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly vital of Carl Borgward's organization approach, and included many from the arguments later advanced to explain or justify the firm's demise. The widest range connected with cars from any manufacturer in Germany, produced by three until recently operationally autonomous organizations (Borgward, Goliath and Lloyd) was supporting a turnover connected with only 650 million Grades, placing the overall sales value from your combined Borgward auto businesses only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation associated with new and modified models featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") gave rise to components which too often did not work, broke down or dropped apart, resulting in massive expenses for pre-delivery remediation and/or write-up delivery warranty work that found their in the past to the company.The December 1960 Spiegel article hasn't been the only serious open public criticism targeting Borgward currently: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild paper and in television reviews. Critical media commentaries also appeared concerning large loans towards Borgward Group provided from the local Landesbank.It is apparent how the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses for instance auto manufacturing use their own expensive machines and tools most efficiently as long as they use them constantly on full capacity, but the car market in Europe inside the 1950s/60s was more periodic than today, with sales diminishing with Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars at the end of 1960 was higher than usual, reflecting ambitious growth programs, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered because of the North American dealers within 1960 (and of the 12, 000 delivered to all of them) 6, 000 might have for being taken back following a slump in Us demand. (Borgward was not the one European auto maker hit by way of North American slump successful for imported cars in the course of 1960. In the same yr 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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At the end of December 1960 Borgward approached the lending company for a further one million Marks of credit ratings, the loan to be backed with a 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 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 within a still hostile media, Borgward agreed to the particular senate’s terms on four February 1961, thereby averting the bankruptcy on the business.The Bremen Senate likewise insisted on appointing its nominee as chairman with the company’s supervisory board. The man they decided to go with was Johannes Semler to whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice towards the breadth of Semler’s job. He had studied rules at university and worked initially as a lawyer. The scion of a number one Hamburg political family, in 1945 he had himself been a founding person in the centre-right CSU bash, and was a person in the Bundestag between 1950 as well as 1953. Despite his Hamburg beginnings, Semler was by this time around based in Munich, with a network of contacts in the Bavarian establishment that probably included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position in the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators for you to chair the Borgward supervisory aboard would, in retrospect, contribute to the dispute that followed the Borgward a bankruptcy proceeding.
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With 28 July 1961 Semler, as Chairman of the supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the business to continue to trade while concurrently protecting the interests connected with creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November through 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 for you to survive.
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