Borgward is surely 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 made four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grand son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the business's first new car inside over 40 years, the BX7 at the actual 2015 International Motor Display.The origins of Bremen's most significant auto-business resume 1905 with the establishment in nearby Varel from the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself regarding "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and because of the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand the actual scope of his car business, and he took control from it.
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The first "automobile" Carl Borgward developed was the 1924 Blitzkarren (turbo cart), a sort of very small 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 bought for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 or perhaps 7 hp Goliath Leader. Borgward turned his focus on the other businesses as well as led the development on the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 and in 1939 the identify 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 lot of the brand names from businesses he had acquired over the years to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business at the same time of austerity and rationing. For many purposes nokia's would be run being a single entity, but in a business operated by way of a man to whom delegation would not come naturally the growth of legal entities nevertheless added unhelpful layers of complexity with the 1950s and encouraged a broadening of the range which finally proved financially unsustainable with the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of many top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's most favored model and remained in production to the life of the organization. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (which was also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such since air suspension and computerized transmission, the company had trouble competing out there. While larger companies similar to Opel and VW took benefit of economies of scale and also kept their prices low to gain market share, Borgward's cost structure was even greater than necessary for its measurement, as it basically handled as four tiny independent companies and don't implemented such basic price reduction strategies as articulation development and parts sharing between your company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced to be a water-cooled boxer with the front wheel drive, but plagued with problems for example water leakage and gearbox secrets. Lloyd lost money on the car though it was more expensive in comparison with its direct competitors.In 1961, the company was required into liquidation by credit card companies. Carl Borgward died inside July 1963, still insisting the company was technically solvent. This proved to be true from the sense that after your creditors were paid fully, there was still 5. 5 million Marks left over from the business.
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Studies of difficulties at Borgward surfaced within the article that appeared in Germany's leading news mag, “Der Spiegel” on age 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 entry cover. It was strongly important of Carl Borgward's organization approach, and included many with the arguments later advanced to go into detail or justify the company's demise. The widest range involving cars from any manufacturer in Germany, produced by three until eventually recently operationally autonomous corporations (Borgward, Goliath and Lloyd) has been supporting a turnover of only 650 million Scars, placing the overall sales value on 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 regarding new and modified models featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") offered rise to components which excessively did not work, broke down or droped apart, resulting in massive bills for pre-delivery remediation and/or post delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article has not been the only serious open public criticism targeting Borgward currently: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild paper and in television accounts. Critical media commentaries furthermore appeared concerning large loans towards Borgward Group provided because of the local Landesbank.It is apparent which the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses like auto manufacturing use their expensive machines and tools most efficiently when they use them constantly from full capacity, but the car market in Europe inside the 1950s/60s was more seasons than today, with sales diminishing in Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars at the end of 1960 was beyond usual, reflecting ambitious growth options, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered through the North American dealers inside 1960 (and in the 12, 000 delivered to them) 6, 000 might have to get taken back following a slump in Us demand. (Borgward was not the sole European auto maker hit by way of a North American slump sought after for imported cars throughout 1960. In the same season two ships carrying Renault Dauphines were turned back 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 the lending company for a further one particular million Marks of credit rating, the loan to be backed with a guarantee from the Bremen regional government which initially the Bremen senators agreed to provide. However, following the flood associated with critical press comment the particular senators withdrew their guarantee. They now required Carl Borgward to pledge the organization itself to the state in substitution 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 in the business.The Bremen Senate likewise insisted on appointing a nominee as chairman of the company’s supervisory board. The man they decided to go with was Johannes Semler to whom reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice for the breadth of Semler’s profession. He had studied legislation at university and worked initially as being a lawyer. The scion of a respected Hamburg political family, in 1945 he had himself been a founding person in the centre-right CSU gathering, and was a person in the Bundestag between 1950 and 1953. Despite his Hamburg beginning, Semler was by on this occasion based in Munich, with a network of contacts inside Bavarian establishment that almost certainly included fellow CSU politician along with 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 because representative of the Bremen senators to help chair the Borgward supervisory aboard would, in retrospect, contribute to the dispute that followed the Borgward individual bankruptcy.
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Upon 28 July 1961 Semler, as Chairman of your supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the business to continue to trade while while doing so protecting the interests regarding creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of their own, never had any purpose of allowing the Borgward auto-businesses to be able to survive.
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