Borgward is an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in the actual 1960s. The Borgward group developed four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the businesses first new car within over 40 years, the BX7 at the actual 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business go back to 1905 with the place in nearby Varel of the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself regarding "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 to create 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 individual bankruptcy. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand the actual scope of his auto business, and he took control from it.
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The 1st "automobile" Carl Borgward intended was the 1924 Blitzkarren (super cart), a sort of little three-wheeled van with two hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered some of them for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the still three wheeler timber presented synthetic leather bodied 5 or perhaps 7 hp Goliath Founder. Borgward turned his attention to the other businesses as well as led the development of the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 along with in 1939 the brand was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from organizations he had acquired through the years to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business at the same time of austerity and rationing. For many purposes nokia's would be run being a single entity, but in a business operated by way of man to whom delegation would not come naturally the growth of legal entities even so added unhelpful layers of complexity throughout the 1950s and encouraged a broadening on the range which in the end proved financially unsustainable with the sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.Among the top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's hottest model and remained in production for your life of the organization. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers inside late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (that was also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such seeing that air suspension and programmed transmission, the company had trouble competing in the market. While larger companies just like Opel and VW took selling point of economies of scale and kept their prices low to achieve market share, Borgward's cost structure was even above necessary for its measurement, as it basically controlled as four tiny independent companies and never implemented such basic cost reduction strategies as mutual development and parts sharing between company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced to be a water-cooled boxer with entrance wheel drive, but plagued with problems for instance water leakage and gearbox errors. Lloyd lost money on the car though it was more expensive in comparison with its direct competitors.In 1961, the company was compelled into liquidation by credit card companies. Carl Borgward died throughout July 1963, still insisting the company have been technically solvent. This proved to be true inside sense that after the actual creditors were paid fully, there was still some. 5 million Marks left over from the business.
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Studies of difficulties at Borgward surfaced within an article that appeared with Germany's leading news newspaper, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly vital of Carl Borgward's organization approach, and included many on the arguments later advanced to spell out or justify the business's demise. The widest range of cars from any maker in Germany, produced by three until eventually recently operationally autonomous organizations (Borgward, Goliath and Lloyd) has been supporting a turnover of only 650 million Scars, placing the overall sales value from the combined Borgward auto firms only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation involving new and modified versions featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") gave rise to components which many times did not work, broke down or fell apart, resulting in massive payments for pre-delivery remediation and/or post delivery warranty work that found their in the past to the company.The December 1960 Spiegel article was not the only serious community criticism targeting Borgward at the moment: suddenly stridently negative (in case more succinct) comments also resulted in in the influential mass-market Bild newspaper and in television stories. Critical media commentaries furthermore appeared concerning large loans towards the Borgward Group provided with the local Landesbank.It is apparent which the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses like auto manufacturing use their particular expensive machines and tools most efficiently as long as they use them constantly with full capacity, but the car market in Europe inside 1950s/60s was more seasons than today, with sales diminishing in Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars towards the end of 1960 was above usual, reflecting ambitious growth ideas, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered from the North American dealers inside 1960 (and from the 12, 000 delivered to these individuals) 6, 000 might have for being 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 in demand for imported cars while in 1960. In the same year two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in Big apple were overcrowded with unsold Dauphines.
Towards the end of December 1960 Borgward approached the bank for a further 1 million Marks of credit, the loan to be backed by way of guarantee from the Bremen regional government which initially the Bremen senators opted for provide. However, following the flood of critical press comment the particular senators withdrew their assurance. They now required Carl Borgward to pledge this company itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in a very still hostile media, Borgward agreed to the particular senate’s terms on 5 February 1961, thereby averting the bankruptcy in the business.The Bremen Senate likewise insisted on appointing a nominee as chairman of the company’s supervisory board. The man they selected was Johannes Semler who reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice towards breadth of Semler’s vocation. He had studied legislation at university and worked initially like a lawyer. The scion of a leading Hamburg political family, in 1945 he experienced himself been a founding person in the centre-right CSU party, and was a member of the Bundestag between 1950 and 1953. Despite his Hamburg beginnings, Semler was by now based in Munich, with a network of contacts inside Bavarian establishment that almost certainly included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position from the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators to be able to chair the Borgward supervisory table would, in retrospect, contribute to the conflict that followed the Borgward personal bankruptcy.
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With 28 July 1961 Semler, as Chairman of the actual 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 to get a court sanctioned scheme of arrangement enabling the organization to continue to trade while while doing so protecting the interests of creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of their own, never had any objective of allowing the Borgward auto-businesses for you to survive.
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