Borgward is usually an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in this 1960s. The Borgward group created four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the firm's first new car with over 40 years, the BX7 at the actual 2015 International Motor Display.The origins of Bremen's most significant auto-business go back to 1905 with the institution in nearby Varel from the "Hansa Automobilgesellschaft" and the foundation in Bremen itself connected 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 economic situation then confronting Germany, the business failed to prosper and with the late 1920s faced personal 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 automobile business, and he took control than it.
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The first "automobile" Carl Borgward intended was the 1924 Blitzkarren (lightning cart), a sort of tiny three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success already in the market gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the nevertheless three wheeler timber presented synthetic leather bodied 5 or even 7 hp Goliath Leading. Borgward turned his attention to the other businesses in addition to led the development on the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and also in 1939 the brand 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 few of the brand names from companies he had acquired through the years to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the number 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 did not come naturally the expansion of legal entities nonetheless added unhelpful layers of complexity from the 1950s and encouraged a broadening of the range which in the long run proved financially unsustainable with the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of several top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most in-demand model and remained in production for the life of the business. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these learning to be a successful Formula Two power unit (that has been also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such seeing that air suspension and computerized transmission, the company had trouble competing available. While larger companies like Opel and VW took benefit of economies of scale as well as kept their prices low to achieve market share, Borgward's cost structure was even more than necessary for its dimension, as it basically managed as four tiny independent companies and never implemented such basic price tag reduction strategies as shared development and parts sharing between the company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced as being a water-cooled boxer with top wheel drive, but plagued with problems for instance water leakage and gearbox secrets. Lloyd lost money on the car though it was more expensive than its direct competitors.In 1961, the company was compelled into liquidation by lenders. Carl Borgward died in July 1963, still insisting the company ended up technically solvent. This proved to be true inside the sense that after your creditors were paid fully, there was still 5. 5 million Marks left over from the business.
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Stories of difficulties at Borgward surfaced within the article that appeared within Germany's leading news magazine, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly crucial of Carl Borgward's business approach, and included many in the arguments later advanced to spellout or justify the business's demise. The widest range associated with cars from any manufacturer in Germany, produced by three until finally recently operationally autonomous firms (Borgward, Goliath and Lloyd) ended up being supporting a turnover regarding only 650 million Grades, placing the overall sales value from the combined Borgward auto companies only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation involving new and modified versions featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") gave rise to components which too often did not work, broke down or fell into apart, resulting in massive costs for pre-delivery remediation and/or write-up delivery warranty work that found their way back 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 classifieds and in television stories. Critical media commentaries furthermore appeared concerning large loans to the Borgward Group provided from the local Landesbank.It is apparent the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses like auto manufacturing use their own expensive machines and tools most efficiently if they use them constantly on 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 early summer months: Borgward’s inventory of unsold cars at the end of 1960 was greater than usual, reflecting ambitious growth options, most obviously in respect of america 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 to be taken back following a slump in American demand. (Borgward was not the only real European auto maker hit with a North American slump in demand for imported cars in the course of 1960. In the same season two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached the lender for a further one million Marks of credit history, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators decided provide. However, following the flood regarding critical press comment the particular senators withdrew their guarantee. They now required Carl Borgward to pledge the business itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported inside a still hostile media, Borgward agreed to this senate’s terms on four February 1961, thereby averting the bankruptcy on the business.The Bremen Senate additionally insisted on appointing a nominee as chairman with the company’s supervisory board. The man they select was Johannes Semler which reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice on the breadth of Semler’s profession. He had studied legislations at university and worked initially like a lawyer. The scion of a number one Hamburg political family, in 1945 he experienced himself been a founding person in the centre-right CSU get together, and was a member of the Bundestag between 1950 and 1953. Despite his Hamburg roots, Semler was by now based in Munich, with a network of contacts inside the Bavarian establishment that probably included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position in the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators for you to chair the Borgward supervisory panel would, in retrospect, contribute to the controversy that followed the Borgward a bankruptcy proceeding.
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On 28 July 1961 Semler, as Chairman of your supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling this company to continue to trade while while doing so protecting the interests regarding creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of her own, never had any purpose of allowing the Borgward auto-businesses to help survive.
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