Borgward is usually an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in the particular 1960s. The Borgward group developed four brands of vehicles: 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 Oriental investment, and unveiled the business's first new car with over 40 years, the BX7 at the actual 2015 International Motor Display.The origins of Bremen's most significant auto-business go back to 1905 with the place in nearby Varel with the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself of "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 to form 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 personal bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the particular scope of his vehicle business, and he took control than it.
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The very first "automobile" Carl Borgward made was the 1924 Blitzkarren (turbo cart), a sort of teeny three-wheeled van with only two hp (1. 5 kW), which was an enormous success already in the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the even now three wheeler timber framed synthetic leather bodied 5 as well as 7 hp Goliath Pioneer. Borgward turned his focus on the other businesses along with led the development in the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 in addition to in 1939 the identify 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 a few of the brand names from organizations he had acquired over the years to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business during a period of austerity and rationing. For many purposes the lenders would be run like 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 with the 1950s and encouraged a broadening on the range which ultimately proved financially unsustainable while using the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.One of 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 most in-demand model and remained in production for the life of the firm. In 1960 the Borgward P100 ended up being 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 learning to be a successful Formula Two power unit (that was also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such as air suspension and intelligent transmission, the company had trouble competing out there. While larger companies such as Opel and VW took good thing about economies of scale and also kept their prices low to get market share, Borgward's cost structure was even greater than necessary for its measurement, as it basically controlled as four tiny independent companies and never implemented such basic price reduction strategies as articulation development and parts sharing between 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 such as water leakage and gearbox mistakes. Lloyd lost money on the car though it was more expensive as compared to its direct competitors.In 1961, the company was pushed into liquidation by collectors. Carl Borgward died in July 1963, still insisting the company ended up technically solvent. This proved to be true inside sense that after your creditors were paid entirely, there was still 5. 5 million Marks left over from the business.
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Reports of difficulties at Borgward surfaced within the article that appeared inside Germany's leading news journal, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly crucial of Carl Borgward's business approach, and included many in the arguments later advanced to describe or justify the business's demise. The widest range of cars from any maker in Germany, produced by three until finally recently operationally autonomous firms (Borgward, Goliath and Lloyd) had been supporting a turnover connected with only 650 million Represents, placing the overall sales value through the combined Borgward auto corporations only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation connected with new and modified products featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") presented rise to components which many times did not work, broke down or fell into apart, resulting in massive costs for pre-delivery remediation and/or submit delivery warranty work that found their long ago to the company.The December 1960 Spiegel article was not the only serious open public criticism targeting Borgward right now: suddenly stridently negative (in the event that more succinct) comments also turned up in the influential mass-market Bild newspaper and in television reports. Critical media commentaries likewise appeared concerning large loans towards the Borgward Group provided because of the local Landesbank.It is apparent that this business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses such as auto manufacturing use their particular expensive machines and tools most efficiently should they use them constantly with full capacity, but the car market in Europe inside 1950s/60s was more seasonal than today, with sales diminishing throughout Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars at the end of 1960 was above usual, reflecting ambitious growth ideas, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered because of the North American dealers in 1960 (and with 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 a North American slump widely used for imported cars in the course of 1960. In the same 12 months 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 conclusion of December 1960 Borgward approached the lender for a further just one million Marks of credit, the loan to be backed by a guarantee from the Bremen local government which initially the Bremen senators opted for provide. However, following the flood of critical press comment the actual senators withdrew their ensure. 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 this senate’s terms on 5 February 1961, thereby averting the bankruptcy with the business.The Bremen Senate furthermore insisted on appointing its nominee as chairman of the company’s supervisory board. The man they chose was Johannes Semler to whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice towards the breadth of Semler’s profession. He had studied rules at university and worked initially like a lawyer. The scion of a respected Hamburg political family, in 1945 he acquired himself been a founding person in the centre-right CSU celebration, and was a person in the Bundestag between 1950 as well as 1953. Despite his Hamburg origins, Semler was by now based in Munich, with a network of contacts inside the Bavarian establishment that possibly included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position within the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators in order 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 supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling the organization to continue to trade while at the same time protecting the interests regarding creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his own, never had any goal of allowing the Borgward auto-businesses to be able to survive.
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