Borgward is an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in your 1960s. The Borgward group generated four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's grand son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the corporation's first new car throughout over 40 years, the BX7 at the 2015 International Motor Indicate.The origins of Bremen's most significant auto-business resume 1905 with the establishment in nearby Varel of the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself regarding "Namag", maker of the Lloyd car. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economic situation then confronting Germany, the business failed to prosper and with the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand this scope of his automotive business, and he took control than it.
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The very first "automobile" Carl Borgward intended was the 1924 Blitzkarren (lightning cart), a sort of teeny three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success on the market gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered most of them 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 by now evolved into the still three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Founder. Borgward turned his awareness of the other businesses as well as led the development of the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 and also in 1939 the brand was shortened to Borgward 2000. The 2000 model was accompanied 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 firms he had acquired in the past to found three different 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 as being a single entity, but in a business operated by way of a man to whom delegation did not come naturally the proliferation of legal entities nevertheless added unhelpful layers of complexity with the 1950s and encouraged a broadening in the range which in the end proved financially unsustainable while using sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of several top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most popular 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 inside the late 1950s, with the 16-valve engine from these learning to be a successful Formula Two power unit (which has been also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such while air suspension and programmed transmission, the company had trouble competing in the market. While larger companies just like Opel and VW took selling point of economies of scale as well as kept their prices low to gain market share, Borgward's cost structure was even greater than necessary for its dimension, as it basically managed as four tiny independent companies and never implemented such basic price tag reduction strategies as mutual development and parts sharing between your company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced as being a water-cooled boxer with entrance wheel drive, but plagued with problems for instance water leakage and gearbox snags. Lloyd lost money on the car community . was more expensive as compared to its direct competitors.In 1961, the company was pushed into liquidation by loan companies. Carl Borgward died in 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 in full, there was still several. 5 million Marks remaining from the business.
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Reports of difficulties at Borgward surfaced in a article that appeared throughout Germany's leading news journal, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly important of Carl Borgward's small business approach, and included many from the arguments later advanced to describe or justify the firm's demise. The widest range associated with cars from any company in Germany, produced by three until recently operationally autonomous corporations (Borgward, Goliath and Lloyd) ended up being supporting a turnover of only 650 million Scars, placing the overall sales value in the combined Borgward auto firms only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation involving new and modified versions featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") gave rise to components which many times did not work, broke down or fell into apart, resulting in massive bills for pre-delivery remediation and/or publish delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article has not been the only serious public criticism targeting Borgward presently: suddenly stridently negative (in the event that more succinct) comments also resulted in in the influential mass-market Bild newspaper and in television reports. Critical media commentaries likewise appeared concerning large loans for the Borgward Group provided because of the local Landesbank.It is apparent how the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses such as auto manufacturing use their own expensive machines and tools most efficiently whenever they use them constantly in full capacity, but the car market in Europe inside the 1950s/60s was more seasonal than today, with sales diminishing inside Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars at the end of 1960 was above usual, reflecting ambitious growth plans, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered by the North American dealers in 1960 (and on the 12, 000 delivered to these people) 6, 000 might have to get taken back following a slump in American demand. (Borgward was not the only European auto maker hit by the North American slump sought after for imported cars during 1960. In the same season two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the bank for a further just one million Marks of credit ratings, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators consented to provide. However, following the flood associated with critical press comment your 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 in a very still hostile media, Borgward agreed to this senate’s terms on some February 1961, thereby averting the bankruptcy of the business.The Bremen Senate also insisted on appointing its nominee as chairman with the company’s supervisory board. The man they chose was Johannes Semler with whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice towards the breadth of Semler’s career. He had studied rules at university and worked initially like a lawyer. The scion of a respected 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 and also 1953. Despite his Hamburg origins, Semler was by on this occasion based in Munich, with a network of contacts from the Bavarian establishment that most likely included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position from the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators in order to chair the Borgward supervisory panel would, in retrospect, contribute to the debate that followed the Borgward a bankruptcy proceeding.
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With 28 July 1961 Semler, as Chairman of your 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 for any court sanctioned scheme of arrangement enabling this company to continue to trade while as well protecting the interests regarding creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of his very own, never had any goal of allowing the Borgward auto-businesses to help survive.
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