Borgward can be an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in this 1960s. The Borgward group generated four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grandson, Christian Borgward, together with his partner 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 Demonstrate.The origins of Bremen's most significant auto-business get back to 1905 with the organization in nearby Varel of the "Hansa Automobilgesellschaft" and the muse in Bremen itself connected with "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and with the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand your scope of his car business, and he took control of computer.
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The primary "automobile" Carl Borgward created was the 1924 Blitzkarren (lightning cart), a sort of little three-wheeled van with two 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 for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the still three wheeler timber framed synthetic leather bodied 5 as well as 7 hp Goliath Leading. Borgward turned his focus on the other businesses and also led the development in the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 along with in 1939 the title was shortened to Borgward 2000. The 2000 model was as well as 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 distinct companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business at any given time of austerity and rationing. For many purposes the lenders would be run to be a single entity, but in a business operated with a man to whom delegation didn't come naturally the proliferation of legal entities on the other hand added unhelpful layers of complexity with the 1950s and encouraged a broadening in the range which in the long run proved financially unsustainable with the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of the top engineers at Borgward 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 that 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 within the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (which was also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such since air suspension and intelligent transmission, the company had trouble competing available on the market. While larger companies like Opel and VW took good thing about economies of scale and also kept their prices low to gain market share, Borgward's cost structure was even greater than necessary for its sizing, as it basically operated as four tiny independent companies and don't implemented such basic price tag reduction strategies as articulation development and parts sharing between the company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced being a water-cooled boxer with the front wheel drive, but plagued with problems for example water leakage and gearbox secrets. Lloyd lost money on the car just about the most was more expensive in comparison with its direct competitors.In 1961, the company was forced into liquidation by collectors. Carl Borgward died inside July 1963, still insisting the company ended up technically solvent. This proved to be true within the sense that after the actual creditors were paid in full, there was still 5. 5 million Marks remaining from the business.
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Reports of difficulties at Borgward surfaced in an article that appeared within Germany's leading news publication, “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 front cover. It was strongly essential of Carl Borgward's business approach, and included many from the arguments later advanced to describe or justify the firm's demise. The widest range regarding cars from any producer in Germany, produced by three until eventually recently operationally autonomous organizations (Borgward, Goliath and Lloyd) ended up being supporting a turnover involving only 650 million Scars, placing the overall sales value from the combined Borgward auto companies only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation connected with new and modified designs featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") gave rise to components which excessively did not work, broke down or fell apart, resulting in massive bills for pre-delivery remediation and/or write-up delivery warranty work that found their made use of to the company.The December 1960 Spiegel article was not the only serious general public criticism targeting Borgward presently: suddenly stridently negative (in the event that more succinct) comments also turned up in the influential mass-market Bild paper and in television reviews. Critical media commentaries additionally appeared concerning large loans towards the Borgward Group provided because of the local Landesbank.It is apparent how the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses such as auto manufacturing use their own expensive machines and tools most efficiently as long as they use them constantly at full capacity, but the car market in Europe in the 1950s/60s was more seasonal than today, with sales diminishing inside Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was above usual, reflecting ambitious growth programs, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered from the North American dealers inside 1960 (and in the 12, 000 delivered to all of them) 6, 000 might have to get taken back following a slump in Us demand. (Borgward was not really the only European auto maker hit by the North American slump sought after for imported cars during 1960. In the same year two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the bank for a further one million Marks of credit score, the loan to be backed by way of guarantee from the Bremen regional government which initially the Bremen senators agreed to provide. However, following the flood involving critical press comment your 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 the particular senate’s terms on some February 1961, thereby averting the bankruptcy from the business.The Bremen Senate additionally insisted on appointing a nominee as chairman with the company’s supervisory board. The man they selected was Johannes Semler with whom reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice towards breadth of Semler’s job. He had studied legislation at university and worked initially being a lawyer. The scion of a number one Hamburg political family, in 1945 he acquired himself been a founding person in the centre-right CSU bash, and was a member of the Bundestag between 1950 in addition to 1953. Despite his Hamburg roots, Semler was by these times based in Munich, with a network of contacts within the Bavarian establishment that possibly included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position within the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators in order to chair the Borgward supervisory board would, in retrospect, contribute to the hot debate that followed the Borgward chapter 7.
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Upon 28 July 1961 Semler, as Chairman of this supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling the organization to continue to trade while simultaneously protecting the interests involving creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of his own, never had any intention of allowing the Borgward auto-businesses to help survive.
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