Borgward can be an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in this 1960s. The Borgward group developed four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's grandson, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the company's first new car in over 40 years, the BX7 at your 2015 International Motor Display.The origins of Bremen's most significant auto-business go back to 1905 with the establishment in nearby Varel with the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself connected with "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to make 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 the opportunity greatly to expand the particular scope of his vehicle business, and he took control from it.
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The very first "automobile" Carl Borgward intended was the 1924 Blitzkarren (super cart), a sort of small three-wheeled van with only two hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered some of them for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the still three wheeler timber framed synthetic leather bodied 5 as well as 7 hp Goliath Pioneer. Borgward turned his care about the other businesses as well as led the development of the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 in addition to in 1939 the title was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from businesses he had acquired in recent times to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business each time of austerity and rationing. For many purposes the companies would be run as a single entity, but in a business operated by way of man to whom delegation did not come naturally the spreading of legal entities nevertheless added unhelpful layers of complexity with the 1950s and encouraged a broadening in the range which in the long run 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 by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella commenced in 1954. The Isabella would become Borgward's most popular model and remained in production with the life of the business. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (which has been also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such while air suspension and computerized transmission, the company had trouble competing in the market. While larger companies such as Opel and VW took benefit from economies of scale as well as kept their prices low to gain market share, Borgward's cost structure was even beyond necessary for its size, as it basically run as four tiny independent companies rather than implemented such basic cost reduction strategies as shared development and parts sharing between your company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced as a water-cooled boxer with top wheel drive, but plagued with problems for instance water leakage and gearbox snags. Lloyd lost money on the car although it was more expensive when compared with its direct competitors.In 1961, the company was pushed into liquidation by credit card companies. Carl Borgward died in July 1963, still insisting the company were being technically solvent. This proved to be true from the sense that after the creditors were paid in full, there was still some. 5 million Marks remaining from the business.
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Stories of difficulties at Borgward surfaced in a article that appeared within Germany's leading news magazine, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly crucial of Carl Borgward's business approach, and included many from the arguments later advanced to explain or justify the business's demise. The widest range connected with cars from any producer in Germany, produced by three till recently operationally autonomous businesses (Borgward, Goliath and Lloyd) had been supporting a turnover regarding only 650 million Grades, 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 regarding new and modified models featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") offered rise to components which all too often did not work, broke down or fell into apart, resulting in massive bills for pre-delivery remediation and/or article delivery warranty work that found their in the past to the company.The December 1960 Spiegel article has not been the only serious community criticism targeting Borgward at the moment: suddenly stridently negative (in the event more succinct) comments also turned up 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 the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses for instance auto manufacturing use his or her expensive machines and tools most efficiently whenever they use them constantly in full capacity, but the car market in Europe within the 1950s/60s was more seasons than today, with sales diminishing in Winter, then peaking in early summer months: Borgward’s inventory of unsold cars towards the end of 1960 was greater than usual, reflecting ambitious growth ideas, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered from the North American dealers with 1960 (and with the 12, 000 delivered to all of them) 6, 000 might have to get taken back following a slump in American demand. (Borgward was not the one European auto maker hit by way of North American slump widely used for imported cars during 1960. In the same year two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached the lender for a further one million Marks of credit score, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators agreed to provide. However, following the flood associated with critical press comment the particular senators withdrew their assurance. They now required Carl Borgward to pledge the business itself to the state in return 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 several February 1961, thereby averting the bankruptcy with the business.The Bremen Senate likewise insisted on appointing its very own nominee as chairman with the company’s supervisory board. The man they decided was Johannes Semler to whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice towards breadth of Semler’s profession. He had studied legislations at university and worked initially being a lawyer. The scion of a number one Hamburg political family, in 1945 he experienced himself been a founding person in the centre-right CSU get together, and was a person in the Bundestag between 1950 in addition to 1953. Despite his Hamburg origins, Semler was by this time based in Munich, with a network of contacts in the Bavarian establishment that almost certainly included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position within the Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators to help chair the Borgward supervisory mother board would, in retrospect, contribute to the controversy that followed the Borgward individual bankruptcy.
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In 28 July 1961 Semler, as Chairman of your supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling this company to continue to trade while as well protecting the interests involving creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of her own, never had any objective of allowing the Borgward auto-businesses to survive.
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