Borgward can be an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in the 1960s. The Borgward group made four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's grand son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from China investment, and unveiled the corporation's first new car inside over 40 years, the BX7 at the 2015 International Motor Indicate.The origins of Bremen's most significant auto-business get back on 1905 with the business in nearby Varel on the "Hansa Automobilgesellschaft" and the walls in Bremen itself connected with "Namag", maker of the Lloyd vehicle. 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 through the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand this scope of his auto business, and he took control of computer.
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The very first "automobile" Carl Borgward created was the 1924 Blitzkarren (super cart), a sort of teeny three-wheeled van with 2 hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget purchased for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the nonetheless three wheeler timber presented synthetic leather bodied 5 or maybe 7 hp Goliath Master. Borgward turned his care about the other businesses in addition to led the development of the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 and in 1939 the name was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from businesses he had acquired through the years to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business at a time of austerity and rationing. For many purposes the firms would be run being a single entity, but in a business operated by way of man to whom delegation failed to come naturally the proliferation of legal entities however added unhelpful layers of complexity over the 1950s and encouraged a broadening on the range which in the long run proved financially unsustainable using the sales volumes achievable. In 1949 company presented 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 popular model and remained in production to the life of the organization. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (that has been also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such since air suspension and computerized transmission, the company had trouble competing available on the market. While larger companies including Opel and VW took good thing about economies of scale along with kept their prices low to get market share, Borgward's cost structure was even above necessary for its dimensions, as it basically controlled as four tiny independent companies and never implemented such basic price tag reduction strategies as combined development and parts sharing between the company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced as a water-cooled boxer with entry wheel drive, but plagued with problems for instance water leakage and gearbox secrets. Lloyd lost money on the car though it was more expensive compared to its direct competitors.In 1961, the company was pushed into liquidation by credit card companies. Carl Borgward died throughout July 1963, still insisting the company was technically solvent. This proved to be true from the sense that after the particular creditors were paid fully, there was still four. 5 million Marks remaining from the business.
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Stories of difficulties at Borgward surfaced in a article that appeared in Germany's leading news publication, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted through 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 with the arguments later advanced to spellout or justify the businesses demise. The widest range regarding cars from any company in Germany, produced by three till recently operationally autonomous firms (Borgward, Goliath and Lloyd) ended up being supporting a turnover regarding only 650 million Represents, placing the overall sales value from your combined Borgward auto firms only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation associated with new and modified types featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") offered 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 article delivery warranty work that found their way back 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 case more succinct) comments also resulted in in the influential mass-market Bild newspapers and in television accounts. Critical media commentaries likewise appeared concerning large loans to the Borgward Group provided through the local Landesbank.It is apparent that this business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses like auto manufacturing use their expensive machines and tools most efficiently when they use them constantly with full capacity, but the car market in Europe within the 1950s/60s was more periodic than today, with sales diminishing within Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was greater than usual, reflecting ambitious growth options, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered from the North American dealers with 1960 (and on the 12, 000 delivered to all of them) 6, 000 might have to get taken back following a slump in American demand. (Borgward was not the sole European auto maker hit by the North American slump popular for imported cars through 1960. In the same yr two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached the bank for a further one particular million Marks of credit rating, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators agreed to provide. However, following the flood associated with critical press comment the senators withdrew their assure. 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 in a still hostile media, Borgward agreed to the senate’s terms on 4 February 1961, thereby averting the bankruptcy of the business.The Bremen Senate likewise insisted on appointing its own nominee as chairman in the company’s supervisory board. The man they decided was Johannes Semler whom reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice on the breadth of Semler’s profession. He had studied law 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 person in the centre-right CSU bash, and was a person in the Bundestag between 1950 in addition to 1953. Despite his Hamburg beginning, Semler was by these times based in Munich, with a network of contacts inside the Bavarian establishment that probably included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position from the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators in order to chair the Borgward supervisory board would, in retrospect, contribute to the conflict that followed the Borgward chapter 7.
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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 for the court sanctioned scheme of arrangement enabling the company to continue to trade while simultaneously protecting the interests involving creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of his very own, never had any intention of allowing the Borgward auto-businesses in order to survive.
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