Borgward is surely an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in this 1960s. The Borgward group generated four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's 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 this 2015 International Motor Indicate.The origins of Bremen's most significant auto-business return to 1905 with the establishment in nearby Varel on the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself involving "Namag", maker of the Lloyd car. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and with the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the actual scope of his automotive business, and he took control of it.
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The initial "automobile" Carl Borgward made was the 1924 Blitzkarren (lightning cart), a sort of teeny three-wheeled van with two hp (1. 5 kW), which was an enormous success out there 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 director of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the still three wheeler timber framed synthetic leather bodied 5 or maybe 7 hp Goliath Founder. Borgward turned his attention to the other businesses in addition to led the development in the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 as well as in 1939 the brand was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from firms he had acquired in recent times to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business at a time of austerity and rationing. For many purposes the firms would be run as a single entity, but in a business operated by a man to whom delegation didn't come naturally the growth of legal entities nonetheless added unhelpful layers of complexity over the 1950s and encouraged a broadening on the range which in the end proved financially unsustainable while using the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of many top engineers at Borgward by 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 with the life of the organization. In 1960 the Borgward P100 was 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 (that is also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such seeing that air suspension and intelligent transmission, the company had trouble competing available. While larger companies similar to Opel and VW took benefit from economies of scale in addition to kept their prices low to achieve market share, Borgward's cost structure was even more than necessary for its sizing, as it basically operated as four tiny independent companies and never implemented such basic price reduction strategies as joint development and parts sharing between company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced as being a water-cooled boxer with entry wheel drive, but plagued with problems like water leakage and gearbox snags. Lloyd lost money on the car even though it was more expensive as compared to its direct competitors.In 1961, the company was pressured into liquidation by credit card companies. Carl Borgward died within July 1963, still insisting the company had been technically solvent. This proved to be true from the sense that after the particular creditors were paid entirely, there was still four. 5 million Marks left over from the business.
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Accounts of difficulties at Borgward surfaced within an article that appeared in Germany's leading news mag, “Der Spiegel” on 15 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 organization approach, and included many on the arguments later advanced to spell out or justify the businesses demise. The widest range associated with cars from any company in Germany, produced by three until finally recently operationally autonomous organizations (Borgward, Goliath and Lloyd) seemed to be supporting a turnover connected with only 650 million Signifies, placing the overall sales value on the combined Borgward auto firms only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation of new and modified versions featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") provided rise to components which all too often did not work, broke down or fell apart, resulting in massive charges for pre-delivery remediation and/or publish delivery warranty work that found their made use of to the company.The December 1960 Spiegel article has not been the only serious general public criticism targeting Borgward right now: suddenly stridently negative (in the event more succinct) comments also turned up in the influential mass-market Bild newspaper and in television accounts. Critical media commentaries additionally appeared concerning large loans for the Borgward Group provided from the local Landesbank.It is apparent that the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses for instance auto manufacturing use their own expensive machines and tools most efficiently if they use them constantly at full capacity, but the car market in Europe inside 1950s/60s was more temporary than today, with sales diminishing with Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars right at the end of 1960 was above usual, reflecting ambitious growth ideas, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered with the North American dealers with 1960 (and in the 12, 000 delivered to all of them) 6, 000 might have to be taken back following a slump in North american demand. (Borgward was not the sole European auto maker hit by way of a North American slump successful for imported cars in the course of 1960. In the same yr two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in Big apple were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached the bank for a further 1 million Marks of credit rating, the loan to be backed by a guarantee from the Bremen local government which initially the Bremen senators consented to provide. However, following the flood of critical press comment the particular senators withdrew their promise. 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 within a still hostile media, Borgward agreed to the actual senate’s terms on four February 1961, thereby averting the bankruptcy with the business.The Bremen Senate likewise insisted on appointing a nominee as chairman from the company’s supervisory board. The man they decided to go with was Johannes Semler which reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice for the breadth of Semler’s job. He had studied legislation at university and worked initially as a lawyer. The scion of a top Hamburg political family, in 1945 he experienced himself been a founding person in the centre-right CSU party, and was a person in the Bundestag between 1950 along with 1953. Despite his Hamburg beginnings, Semler was by this time around based in Munich, with a network of contacts from the Bavarian establishment that most likely included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position from the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators in order to chair the Borgward supervisory board would, in retrospect, contribute to the debate that followed the Borgward a bankruptcy proceeding.
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In 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors from the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided to get a court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while at the same time protecting the interests of creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of his own, never had any intention of allowing the Borgward auto-businesses in order to survive.
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