Borgward is an automobile manufacturer originally set up 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 vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's grand son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from China investment, and unveiled the businesses first new car inside over 40 years, the BX7 at the particular 2015 International Motor Display.The origins of Bremen's most significant auto-business go back to 1905 with the institution in nearby Varel in the "Hansa Automobilgesellschaft" and the walls in Bremen itself associated with "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and because of the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand the actual scope of his automotive business, and he took control from it.
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The first "automobile" Carl Borgward developed was the 1924 Blitzkarren (turbo cart), a sort of very small three-wheeled van with 3 hp (1. 5 kW), which was an enormous success already in the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the still three wheeler timber presented synthetic leather bodied 5 or maybe 7 hp Goliath Founder. Borgward turned his focus on the other businesses in addition to led the development from 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 and then the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from firms he had acquired through the years to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business at any given time of austerity and rationing. For many purposes nokia's would be run as a single entity, but in a business operated by way of man to whom delegation didn't come naturally the proliferation of legal entities even so added unhelpful layers of complexity from the 1950s and encouraged a broadening with the range which in the end proved financially unsustainable while using the sales volumes achievable. In 1949 company shown 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 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 had been introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (which has been also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such while air suspension and automatic transmission, the company had trouble competing in the marketplace. While larger companies just like Opel and VW took advantage of economies of scale in addition to kept their prices low to find market share, Borgward's cost structure was even greater than necessary for its dimension, as it basically controlled as four tiny independent companies and don't implemented such basic price tag reduction strategies as articulation development and parts sharing relating to the company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced as a water-cooled boxer with entrance wheel drive, but plagued with problems for example water leakage and gearbox glitches. 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 in July 1963, still insisting the company ended up technically solvent. This proved to be true inside the sense that after this creditors were paid entirely, there was still four. 5 million Marks left from the business.
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Studies of difficulties at Borgward surfaced in an article that appeared within Germany's leading news newspaper, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly important of Carl Borgward's business approach, and included many with the arguments later advanced to describe or justify the corporation's demise. The widest range involving cars from any company in Germany, produced by three right up until recently operationally autonomous businesses (Borgward, Goliath and Lloyd) had been supporting a turnover associated with only 650 million Scars, placing the overall sales value on the combined Borgward auto corporations only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation involving new and modified models featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") provided rise to components which many times did not work, broke down or dropped apart, resulting in massive costs for pre-delivery remediation and/or post delivery warranty work that found their way back to the company.The December 1960 Spiegel article was not the only serious general public criticism targeting Borgward at this time: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild classifieds and in television studies. Critical media commentaries likewise appeared concerning large loans for the Borgward Group provided with the local Landesbank.It is apparent that the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses such as auto manufacturing use their particular expensive machines and tools most efficiently if they use them constantly on full capacity, but the car market in Europe in the 1950s/60s was more seasonal than today, with sales diminishing throughout Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars at the end of 1960 was more than usual, reflecting ambitious growth strategies, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered from the North American dealers with 1960 (and of the 12, 000 delivered to them) 6, 000 might have to become taken back following a slump in North american demand. (Borgward was not really the only European auto maker hit by way of a North American slump widely used for imported cars throughout 1960. In the same 12 months two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in Big apple were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached your banker for a further one particular million Marks of credit, the loan to be backed by way of guarantee from the Bremen regional government which initially the Bremen senators decided to provide. However, following the flood regarding critical press comment this senators withdrew their assure. They now required Carl Borgward to pledge this company 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 particular senate’s terms on 4 February 1961, thereby averting the bankruptcy of the business.The Bremen Senate also insisted on appointing a nominee as chairman from the company’s supervisory board. The man they decided was Johannes Semler with whom reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice towards breadth of Semler’s occupation. He had studied regulation at university and worked initially as a lawyer. The scion of a top Hamburg political family, in 1945 he acquired 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 beginning, Semler was by these times based in Munich, with a network of contacts in the Bavarian establishment that probably included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position from the Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators to be able to chair the Borgward supervisory aboard would, in retrospect, contribute to the debate that followed the Borgward individual bankruptcy.
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About 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors from 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 enterprise to continue to trade while simultaneously protecting the interests regarding creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of his very own, never had any intent of allowing the Borgward auto-businesses to be able to survive.
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