Borgward can be an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the actual 1960s. The Borgward group produced four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grand son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the firm's first new car within over 40 years, the BX7 at your 2015 International Motor Present.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 walls in Bremen itself regarding "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 status then confronting Germany, the business failed to prosper and from the late 1920s faced chapter 7. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the actual scope of his automobile business, and he took control from it.
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The 1st "automobile" Carl Borgward intended was the 1924 Blitzkarren (turbo cart), a sort of tiny three-wheeled van with only two hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the however three wheeler timber presented synthetic leather bodied 5 or maybe 7 hp Goliath Leader. Borgward turned his attention to the other businesses along with led the development with the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 along with in 1939 the label was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from corporations he had acquired over the years to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business at a 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 a man to whom delegation wouldn't come naturally the expansion of legal entities however added unhelpful layers of complexity throughout the 1950s and encouraged a broadening in the range which in the end proved financially unsustainable while using the sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.On the list of top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's most popular model and remained in production for your life of the firm. 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 becoming a successful Formula Two power unit (that is also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such because air suspension and automated transmission, the company had trouble competing out there. While larger companies just like Opel and VW took advantage of economies of scale and also kept their prices low to get market share, Borgward's cost structure was even more than necessary for its size, as it basically handled as four tiny independent companies rather than implemented such basic price tag reduction strategies as mutual development and parts sharing between the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced as a water-cooled boxer with front wheel drive, but plagued with problems like water leakage and gearbox glitches. Lloyd lost money on the car although it was more expensive compared to its direct competitors.In 1961, the company was pressured into liquidation by loan companies. Carl Borgward died with July 1963, still insisting the company were being technically solvent. This proved to be true within the sense that after this creditors were paid completely, there was still four. 5 million Marks left over from the business.
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Stories of difficulties at Borgward surfaced in an article that appeared within Germany's leading news magazine, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly essential 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 associated with cars from any maker in Germany, produced by three until eventually recently operationally autonomous organizations (Borgward, Goliath and Lloyd) had been supporting a turnover involving only 650 million Represents, placing the overall sales value from your combined Borgward auto companies only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation involving new and modified models featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") provided 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 post delivery warranty work that found their way back to the company.The December 1960 Spiegel article has not been the only serious community criticism targeting Borgward at this time: suddenly stridently negative (in the event more succinct) comments also turned up in the influential mass-market Bild magazine and in television accounts. Critical media commentaries likewise appeared concerning large loans towards the Borgward Group provided by the local Landesbank.It is apparent how the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses for example auto manufacturing use their expensive machines and tools most efficiently as long as they use them constantly in full capacity, but the car market in Europe inside 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 at the conclusion of 1960 was more than usual, reflecting ambitious growth options, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered with the North American dealers with 1960 (and from the 12, 000 delivered to them) 6, 000 might have to become taken back following a slump in Us demand. (Borgward was not the only European auto maker hit by way of North American slump successful for imported cars during 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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At the end of December 1960 Borgward approached the financial institution for a further a single million Marks of credit ratings, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators decided to provide. However, following the flood associated with critical press comment your senators withdrew their assure. 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 within a still hostile media, Borgward agreed to the actual senate’s terms on some February 1961, thereby averting the bankruptcy on the business.The Bremen Senate in addition insisted on appointing its nominee as chairman with the company’s supervisory board. The man they select was Johannes Semler who reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice towards the breadth of Semler’s profession. He had studied legislation at university and worked initially to be a lawyer. The scion of a top Hamburg political family, in 1945 he got himself been a founding member of the centre-right CSU celebration, and was a member of the Bundestag between 1950 and also 1953. Despite his Hamburg sources, Semler was by this time around 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 inside a top administrative position within 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 conflict that followed the Borgward bankruptcy.
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With 28 July 1961 Semler, as Chairman of your supervisory board joined the directors from the three companies Borgward, Goliath and Lloyd to instigate proceedings with the 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 of creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his own, never had any objective of allowing the Borgward auto-businesses in order to survive.
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