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 autos: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's son, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the businesses first new car within over 40 years, the BX7 at the particular 2015 International Motor Show.The origins of Bremen's most significant auto-business get back on 1905 with the institution in nearby Varel from the "Hansa Automobilgesellschaft" and the muse in Bremen itself involving "Namag", maker of the Lloyd car. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and because of the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the scope of his auto business, and he took control than it.
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The initial "automobile" Carl Borgward developed was the 1924 Blitzkarren (super cart), a sort of very small three-wheeled van with 2 hp (1. 5 kW), which was an enormous success already in the market gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the still three wheeler timber framed synthetic leather bodied 5 as well as 7 hp Goliath Master. Borgward turned his awareness of the other businesses along with led the development with the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 and in 1939 the brand was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used a number 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 businesses would be run as being a single entity, but in a business operated by the man to whom delegation did not come naturally the spreading of legal entities however added unhelpful layers of complexity with the 1950s and encouraged a broadening with the range which ultimately proved financially unsustainable while using sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.Among the 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 in-demand model and remained in production with the life of the corporation. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers in the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that is also used by some 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 out there. While larger companies including Opel and VW took benefit of economies of scale in addition to kept their prices low to find market share, Borgward's cost structure was even above necessary for its measurement, as it basically run as four tiny independent companies and do not implemented such basic expense reduction strategies as mutual development and parts sharing between your company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced as a water-cooled boxer with entry wheel drive, but plagued with problems such as water leakage and gearbox glitches. 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 loan companies. Carl Borgward died in July 1963, still insisting the company were being technically solvent. This proved to be true inside sense that after this creditors were paid fully, there was still 4. 5 million Marks left from the business.
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Accounts of difficulties at Borgward surfaced within the article that appeared within Germany's leading news newspaper, “Der Spiegel” on 14 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 the front cover. It was strongly critical of Carl Borgward's organization approach, and included many of the arguments later advanced to describe or justify the firm's demise. The widest range regarding cars from any manufacturer in Germany, produced by three until finally recently operationally autonomous corporations (Borgward, Goliath and Lloyd) was supporting a turnover involving only 650 million Scars, placing the overall sales value through the combined Borgward auto businesses only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation associated with new and modified products featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") provided rise to components which all too often did not work, broke down or dropped apart, resulting in massive charges for pre-delivery remediation and/or submit delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article had not been the only serious open public criticism targeting Borgward at the moment: suddenly stridently negative (in the event that more succinct) comments also resulted in in the influential mass-market Bild newspapers and in television reports. Critical media commentaries in addition appeared concerning large loans towards Borgward Group provided because of the local Landesbank.It is apparent which the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses like auto manufacturing use their particular expensive machines and tools most efficiently when they use them constantly in full capacity, but the car market in Europe from the 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 at the conclusion of 1960 was above usual, reflecting ambitious growth plans, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered with the North American dealers with 1960 (and on the 12, 000 delivered to them) 6, 000 might have being taken back following a slump in American demand. (Borgward was not the only real European auto maker hit by way of North American slump sought after for imported cars while in 1960. In the same yr two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached your banker for a further one particular million Marks of credit rating, the loan to be backed by way of a guarantee from the Bremen local government which initially the Bremen senators consented to provide. However, following the flood regarding critical press comment the senators withdrew their assure. They now required Carl Borgward to pledge the company 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 senate’s terms on some February 1961, thereby averting the bankruptcy from the business.The Bremen Senate furthermore insisted on appointing its very own nominee as chairman of the company’s supervisory board. The man they decided to go with was Johannes Semler who reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice towards the breadth of Semler’s career. He had studied legislations at university and worked initially as being a lawyer. The scion of a leading Hamburg political family, in 1945 he acquired himself been a founding member of the centre-right CSU bash, and was a member of the Bundestag between 1950 and 1953. Despite his Hamburg beginning, Semler was by on this occasion based in Munich, with a network of contacts from the Bavarian establishment that almost certainly included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position within the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators to help chair the Borgward supervisory panel would, in retrospect, contribute to the controversy that followed the Borgward a bankruptcy proceeding.
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Upon 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 with the establishment of a “Vergleichsverfahren”, which would have provided to get a court sanctioned scheme of arrangement enabling the business to continue to trade while concurrently protecting the interests associated with creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his very own, never had any intention of allowing the Borgward auto-businesses to survive.
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