Borgward is usually an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in your 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 company's first new car within over 40 years, the BX7 at the 2015 International Motor Indicate.The origins of Bremen's most significant auto-business get back on 1905 with the institution in nearby Varel with the "Hansa Automobilgesellschaft" and the walls in Bremen itself associated 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 financial status then confronting Germany, the business failed to prosper and from the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand the particular scope of his vehicle business, and he took control of it.
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The first "automobile" Carl Borgward created was the 1924 Blitzkarren (lightning cart), a sort of teeny three-wheeled van with 3 hp (1. 5 kW), which was an enormous success on the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 or even 7 hp Goliath Leader. Borgward turned his care about the other businesses as well as led the development on the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 as well as in 1939 the name 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 firms he had acquired over the years to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business each time of austerity and rationing. For many purposes the companies would be run as being a single entity, but in a business operated by way of man to whom delegation did not come naturally the growth of legal entities on the other hand added unhelpful layers of complexity with the 1950s and encouraged a broadening from the range which ultimately proved financially unsustainable while using sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.On the list of top engineers at Borgward coming from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's most favored model and remained in production for the life of the company. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these learning to be a successful Formula Two power unit (that is also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such seeing that air suspension and computerized transmission, the company had trouble competing in the marketplace. While larger companies similar to Opel and VW took benefit of economies of scale in addition to kept their prices low to realize market share, Borgward's cost structure was even more than necessary for its dimension, as it basically controlled as four tiny independent companies rather than implemented such basic price reduction strategies as joint development and parts sharing relating to the company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced being a water-cooled boxer with top wheel drive, but plagued with problems for example water leakage and gearbox secrets. Lloyd lost money on the car even though it was more expensive than its direct competitors.In 1961, the company was compelled into liquidation by lenders. Carl Borgward died inside July 1963, still insisting the company ended up technically solvent. This proved to be true inside sense that after the 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 an article that appeared throughout Germany's leading news publication, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly important of Carl Borgward's small business approach, and included many of the arguments later advanced to spellout or justify the business's demise. The widest range involving cars from any producer in Germany, produced by three till recently operationally autonomous organizations (Borgward, Goliath and Lloyd) had been supporting a turnover connected with only 650 million Marks, placing the overall sales value from the combined Borgward auto organizations only in fifth position 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") provided rise to components which too much did not work, broke down or fell into apart, resulting in massive payments for pre-delivery remediation and/or submit delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article had not been the only serious open criticism targeting Borgward presently: suddenly stridently negative (in case more succinct) comments also resulted in in the influential mass-market Bild newspaper and in television reviews. Critical media commentaries also appeared concerning large loans for the Borgward Group provided with the local Landesbank.It is apparent that the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses such as auto manufacturing use the expensive machines and tools most efficiently if they use them constantly on full capacity, but the car market in Europe from the 1950s/60s was more seasons than today, with sales diminishing within Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars by the end of 1960 was higher than usual, reflecting ambitious growth ideas, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered with the North American dealers throughout 1960 (and from the 12, 000 delivered to these individuals) 6, 000 might have to be taken back following a slump in United states demand. (Borgward was not the only real European auto maker hit by way of North American slump widely used for imported cars throughout 1960. In the same year two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in Ny 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 rating, 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 involving critical press comment this senators withdrew their guarantee. 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 in a still hostile media, Borgward agreed to the particular senate’s terms on four February 1961, thereby averting the bankruptcy from the business.The Bremen Senate likewise insisted on appointing its own nominee as chairman in the company’s supervisory board. The man they decided was Johannes Semler which reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice on the breadth of Semler’s profession. He had studied regulation at university and worked initially as a lawyer. The scion of a leading Hamburg political family, in 1945 he got himself been a founding person in the centre-right CSU celebration, and was a person in the Bundestag between 1950 as well as 1953. Despite his Hamburg sources, Semler was by this time based in Munich, with a network of contacts in the Bavarian establishment that most likely included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position inside Bizone. The appointment of Johannes Semler as the representative of the Bremen senators for you to chair the Borgward supervisory board would, in retrospect, contribute to the controversy that followed the Borgward individual bankruptcy.
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On 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors on 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 organization to continue to trade while concurrently protecting the interests regarding creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of her own, never had any intent of allowing the Borgward auto-businesses to survive.
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