Borgward is an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in your 1960s. The Borgward group made four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grand son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the businesses first new car throughout over 40 years, the BX7 at the particular 2015 International Motor Indicate.The origins of Bremen's most significant auto-business get back to 1905 with the establishment in nearby Varel of the "Hansa Automobilgesellschaft" and the muse in Bremen itself of "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economy then confronting Germany, the business failed to prosper and from 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 the scope of his car business, and he took control of it.
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The initial "automobile" Carl Borgward developed was the 1924 Blitzkarren (super cart), a sort of small three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget bought 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 & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the nevertheless three wheeler timber framed synthetic leather bodied 5 or perhaps 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 completely new Hansa Borgward 2000 in addition to in 1939 the label 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 lot of the brand names from corporations he had acquired in the past to found three separate 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 lenders would be run like a single entity, but in a business operated with a man to whom delegation did not come naturally the spreading of legal entities nevertheless added unhelpful layers of complexity through the 1950s and encouraged a broadening with the range which eventually proved financially unsustainable with all the sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.One of the top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's most popular model and remained in production for the life of the corporation. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (which was also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such seeing that air suspension and programmed transmission, the company had trouble competing available. While larger companies just like Opel and VW took selling point of economies of scale as well as kept their prices low to get market share, Borgward's cost structure was even higher than necessary for its measurement, as it basically run as four tiny independent companies rather than implemented such basic cost reduction strategies as shared development and parts sharing between the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced as being a water-cooled boxer with front wheel drive, but plagued with problems such as water leakage and gearbox secrets. Lloyd lost money on the car although it was more expensive compared to its direct competitors.In 1961, the company was pushed into liquidation by creditors. Carl Borgward died inside July 1963, still insisting the company ended up technically solvent. This proved to be true inside the sense that after the actual creditors were paid completely, there was still some. 5 million Marks left from the business.
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Studies of difficulties at Borgward surfaced in a article that appeared inside Germany's leading news publication, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly essential of Carl Borgward's enterprise approach, and included many of the arguments later advanced to spellout or justify the firm'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 Marks, placing the overall sales value on the 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 connected with new and modified designs featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") offered rise to components which many times did not work, broke down or fell into apart, resulting in massive payments for pre-delivery remediation and/or article delivery warranty work that found their way back to the company.The December 1960 Spiegel article hasn't been the only serious open public criticism targeting Borgward at the moment: 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 in addition appeared concerning large loans towards Borgward Group provided from the local Landesbank.It is apparent that the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses like auto manufacturing use their expensive machines and tools most efficiently as long as they use them constantly from full capacity, but the car market in Europe inside 1950s/60s was more temporary than today, with sales diminishing throughout Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was more than usual, reflecting ambitious growth ideas, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered by the North American dealers with 1960 (and of the 12, 000 delivered to all of them) 6, 000 might have to be taken back following a slump in United states demand. (Borgward was not the only European auto maker hit with a North American slump successful for imported cars throughout 1960. In the same season two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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At the conclusion of December 1960 Borgward approached the lending company for a further 1 million Marks of credit, 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 connected with critical press comment your senators withdrew their assurance. 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 inside a still hostile media, Borgward agreed to the actual senate’s terms on 4 February 1961, thereby averting the bankruptcy of the business.The Bremen Senate in addition insisted on appointing its very own nominee as chairman from the company’s supervisory board. The man they select was Johannes Semler whom reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice on the breadth of Semler’s job. He had studied rules at university and worked initially as being a lawyer. The scion of a leading Hamburg political family, in 1945 he experienced himself been a founding person in the centre-right CSU bash, and was a person in the Bundestag between 1950 and 1953. Despite his Hamburg sources, Semler was by now based in Munich, with a network of contacts within the Bavarian establishment that likely included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position inside Bizone. The appointment of Johannes Semler since the representative of the Bremen senators to chair the Borgward supervisory panel would, in retrospect, contribute to the dispute that followed the Borgward personal bankruptcy.
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On 28 July 1961 Semler, as Chairman of your supervisory board joined the directors from the three companies Borgward, Goliath and Lloyd to instigate proceedings to the establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling this company to continue to trade while simultaneously protecting the interests connected with creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his very own, never had any goal of allowing the Borgward auto-businesses for you to survive.
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