Borgward is an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in your 1960s. The Borgward group developed four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grand son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from China investment, and unveiled the business'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 get back to 1905 with the business in nearby Varel of the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself of "Namag", maker of the Lloyd automobile. 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 by the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand your scope of his automotive business, and he took control of computer.
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The first "automobile" Carl Borgward intended was the 1924 Blitzkarren (turbo cart), a sort of little 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 got it for delivery. The Reichspost ordered some of them for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 or maybe 7 hp Goliath Master. Borgward turned his awareness of the other businesses along with led the development on the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 and also in 1939 the title was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from organizations he had acquired through the years to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business at a time of austerity and rationing. For many purposes the companies would be run as a single entity, but in a business operated by way of man to whom delegation didn't come naturally the expansion of legal entities on the other hand added unhelpful layers of complexity over the 1950s and encouraged a broadening with the range which eventually proved financially unsustainable while using sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of the top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most in-demand model and remained in production with the life of the corporation. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers within the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (that has been also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such while air suspension and programmed 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 realize market share, Borgward's cost structure was even greater than necessary for its dimension, as it basically operated as four tiny independent companies rather than implemented such basic charge reduction strategies as shared development and parts sharing between the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced like a water-cooled boxer with entry wheel drive, but plagued with problems such as water leakage and gearbox glitches. Lloyd lost money on the car just about the most was more expensive in comparison with its direct competitors.In 1961, the company was pressured into liquidation by lenders. Carl Borgward died in July 1963, still insisting the company were being technically solvent. This proved to be true inside the sense that after your creditors were paid fully, there was still 4. 5 million Marks remaining from the business.
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Reviews of difficulties at Borgward surfaced within an article that appeared in Germany's leading news publication, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly essential of Carl Borgward's company approach, and included many of the arguments later advanced to go into detail or justify the business's demise. The widest range connected with cars from any supplier in Germany, produced by three until eventually recently operationally autonomous firms (Borgward, Goliath and Lloyd) was supporting a turnover regarding only 650 million Grades, placing the overall sales value from your combined Borgward auto companies only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation connected with new and modified designs featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") presented rise to components which too much did not work, broke down or droped apart, resulting in massive costs for pre-delivery remediation and/or submit delivery warranty work that found their way back to the company.The December 1960 Spiegel article wasn't the only serious open criticism targeting Borgward at this time: suddenly stridently negative (in case more succinct) comments also turned up in the influential mass-market Bild newspaper and in television accounts. Critical media commentaries in addition appeared concerning large loans to the Borgward Group provided because of the local Landesbank.It is apparent that this business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses for example auto manufacturing use their particular expensive machines and tools most efficiently if they use them constantly in full capacity, but the car market in Europe in the 1950s/60s was more in season than today, with sales diminishing within Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars at the end of 1960 was above usual, reflecting ambitious growth programs, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered from the North American dealers within 1960 (and from the 12, 000 delivered to all of them) 6, 000 might have for being taken back following a slump in Us demand. (Borgward was not the only real European auto maker hit by a North American slump successful for imported cars through 1960. In the same year two ships carrying Renault Dauphines were turned last 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 million Marks of credit history, the loan to be backed by the guarantee from the Bremen local government which initially the Bremen senators agreed to provide. However, following the flood associated with critical press comment the actual senators withdrew their assurance. They now required Carl Borgward to pledge the corporation itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported within a still hostile media, Borgward agreed to this senate’s terms on some February 1961, thereby averting the bankruptcy from the business.The Bremen Senate additionally insisted on appointing a nominee as chairman from the company’s supervisory board. The man they selected was Johannes Semler who reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice towards breadth of Semler’s vocation. He had studied rules at university and worked initially being a lawyer. The scion of a number one Hamburg political family, in 1945 he got himself been a founding member of the centre-right CSU bash, and was a member of the Bundestag between 1950 and 1953. Despite his Hamburg beginning, Semler was by on this occasion based in Munich, with a network of contacts from the Bavarian establishment that likely included fellow CSU politician plus 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 for the reason that representative of the Bremen senators to help chair the Borgward supervisory panel would, in retrospect, contribute to the debate that followed the Borgward bankruptcy.
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With 28 July 1961 Semler, as Chairman of this supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings for that 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 connected with creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of her own, never had any intent of allowing the Borgward auto-businesses to be able to survive.
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