Borgward is an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the 1960s. The Borgward group produced 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 associate Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the corporation's first new car within over 40 years, the BX7 at the 2015 International Motor Show.The origins of Bremen's most significant auto-business resume 1905 with the place in nearby Varel of the "Hansa Automobilgesellschaft" and the muse in Bremen itself regarding "Namag", maker of the Lloyd car. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and through the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand this scope of his automobile business, and he took control of the usb ports.
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The 1st "automobile" Carl Borgward developed was the 1924 Blitzkarren (lightning cart), a sort of small three-wheeled van with two hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the still three wheeler timber framed synthetic leather bodied 5 as well as 7 hp Goliath Leading. Borgward turned his attention to the other businesses as well as led the development from the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 along with in 1939 the name was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from businesses he had acquired over the years to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business at the same time of austerity and rationing. For many purposes the businesses would be run as a single entity, but in a business operated with a man to whom delegation wouldn't come naturally the growth of legal entities nonetheless added unhelpful layers of complexity with the 1950s and encouraged a broadening on the range which eventually proved financially unsustainable while using sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.On the list of 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 widely used model and remained in production with the life of the company. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (which has been also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such while air suspension and intelligent transmission, the company had trouble competing in the marketplace. While larger companies like Opel and VW took advantage of economies of scale as well as kept their prices low to find market share, Borgward's cost structure was even beyond necessary for its dimensions, as it basically run as four tiny independent companies and never implemented such basic charge reduction strategies as articulation development and parts sharing involving the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced to be a water-cooled boxer with entrance wheel drive, but plagued with problems for example water leakage and gearbox mistakes. Lloyd lost money on the car community . was more expensive in comparison with its direct competitors.In 1961, the company was pressured into liquidation by loan companies. Carl Borgward died within July 1963, still insisting the company ended up technically solvent. This proved to be true in the sense that after your creditors were paid completely, there was still 4. 5 million Marks left from the business.
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Accounts of difficulties at Borgward surfaced within the article that appeared with Germany's leading news magazine, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly vital of Carl Borgward's enterprise approach, and included many with the arguments later advanced to describe or justify the business's demise. The widest range regarding cars from any company in Germany, produced by three until finally recently operationally autonomous companies (Borgward, Goliath and Lloyd) ended up being supporting a turnover connected with only 650 million Represents, placing the overall sales value in the combined Borgward auto businesses only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation of new and modified products featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") provided rise to components which excessively did not work, broke down or droped apart, resulting in massive charges for pre-delivery remediation and/or article delivery warranty work that found their in the past to the company.The December 1960 Spiegel article had not been the only serious open public criticism targeting Borgward right now: suddenly stridently negative (in the event more succinct) comments also resulted in in the influential mass-market Bild magazine and in television reports. Critical media commentaries furthermore appeared concerning large loans on the Borgward Group provided from the local Landesbank.It is apparent the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses including auto manufacturing use their expensive machines and tools most efficiently when they use them constantly with full capacity, but the car market in Europe in the 1950s/60s was more periodic than today, with sales diminishing with Winter, then peaking in early summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was beyond 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 through the North American dealers within 1960 (and on the 12, 000 delivered to all of them) 6, 000 might have for being taken back following a slump in North american demand. (Borgward was not the only real European auto maker hit with a North American slump widely used for imported cars while in 1960. In the same 12 months two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached the financial institution for a further just one million Marks of credit ratings, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators consented to provide. However, following the flood connected with critical press comment the senators withdrew their ensure. They now required Carl Borgward to pledge the company itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in the still hostile media, Borgward agreed to your senate’s terms on 5 February 1961, thereby averting the bankruptcy of the business.The Bremen Senate in addition insisted on appointing its very own nominee as chairman from the company’s supervisory board. The man they decided to go with was Johannes Semler which reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice for the breadth of Semler’s career. He had studied rules at university and worked initially as being a lawyer. The scion of a number one Hamburg political family, in 1945 he acquired himself been a founding member of the centre-right CSU get together, and was a person in the Bundestag between 1950 in addition to 1953. Despite his Hamburg roots, Semler was by this time based in Munich, with a network of contacts within 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 very top administrative position in the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators for you to chair the Borgward supervisory panel would, in retrospect, contribute to the debate that followed the Borgward a bankruptcy proceeding.
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On 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 the establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while concurrently protecting the interests of creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of his own, never had any goal of allowing the Borgward auto-businesses for you to survive.
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