Borgward is surely an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in this 1960s. The Borgward group generated four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grandson, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the business's first new car with over 40 years, the BX7 at the particular 2015 International Motor Show.The origins of Bremen's most significant auto-business get back on 1905 with the institution in nearby Varel with the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself involving "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to form 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 chapter 7. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the scope of his automotive business, and he took control from it.
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The initial "automobile" Carl Borgward designed was the 1924 Blitzkarren (turbo cart), a sort of very small 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 bought for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the overseer 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 however three wheeler timber framed synthetic leather bodied 5 or perhaps 7 hp Goliath Master. Borgward turned his awareness of the other businesses and also led the development with the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 as well as in 1939 the identify was shortened to Borgward 2000. The 2000 model was followed 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 companies he had acquired in recent times to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business at a time of austerity and rationing. For many purposes the lenders would be run to be a single entity, but in a business operated by the man to whom delegation failed to come naturally the proliferation of legal entities even so added unhelpful layers of complexity through the 1950s and encouraged a broadening on the range which ultimately proved financially unsustainable while using the sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.One of many top engineers at Borgward coming 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 for your life of the corporation. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (that has been also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such seeing that air suspension and programmed transmission, the company had trouble competing in the marketplace. While larger companies such as Opel and VW took benefit of economies of scale in addition to kept their prices low to gain market share, Borgward's cost structure was even beyond necessary for its size, as it basically handled as four tiny independent companies and don't implemented such basic price reduction strategies as shared development and parts sharing relating to the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced as being a water-cooled boxer with entry wheel drive, but plagued with problems including water leakage and gearbox glitches. Lloyd lost money on the car community . was more expensive compared to its direct competitors.In 1961, the company was pushed into liquidation by loan companies. Carl Borgward died inside July 1963, still insisting the company ended up technically solvent. This proved to be true inside sense that after this creditors were paid completely, there was still four. 5 million Marks left over from the business.
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Studies of difficulties at Borgward surfaced in a article that appeared inside Germany's leading news journal, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly critical of Carl Borgward's business approach, and included many of the arguments later advanced to spell out or justify the business's demise. The widest range associated with cars from any manufacturer in Germany, produced by three till recently operationally autonomous businesses (Borgward, Goliath and Lloyd) has been supporting a turnover of only 650 million Represents, placing the overall sales value on the combined Borgward auto corporations only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation associated with new and modified designs featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") offered rise to components which many times did not work, broke down or dropped apart, resulting in massive expenses 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 community criticism targeting Borgward right now: suddenly stridently negative (in the event that more succinct) comments also turned up in the influential mass-market Bild magazine and in television studies. Critical media commentaries furthermore appeared concerning large loans for the Borgward Group provided through the local Landesbank.It is apparent which the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses for instance auto manufacturing use their expensive machines and tools most efficiently as long as they use them constantly with full capacity, but the car market in Europe within the 1950s/60s was more seasonal 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 greater than usual, reflecting ambitious growth programs, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered by the North American dealers inside 1960 (and on the 12, 000 delivered to these) 6, 000 might have being taken back following a slump in Us demand. (Borgward was not really the only European auto maker hit with a North American slump popular for imported cars while in 1960. In the same year two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Big apple were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached your banker for a further one particular million Marks of credit score, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators opted for provide. However, following the flood involving critical press comment the senators withdrew their ensure. They now required Carl Borgward to pledge this company itself to the state in substitution 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 from the business.The Bremen Senate furthermore insisted on appointing its very own nominee as chairman from the company’s supervisory board. The man they chose was Johannes Semler whom reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice towards the breadth of Semler’s occupation. He had studied rules at university and worked initially like a lawyer. The scion of a number one Hamburg political family, in 1945 he had himself been a founding member of the centre-right CSU party, and was a person in the Bundestag between 1950 as well as 1953. Despite his Hamburg origins, Semler was by this time around based in Munich, with a network of contacts in the Bavarian establishment that likely included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position inside Bizone. The appointment of Johannes Semler because the representative of the Bremen senators to be able to chair the Borgward supervisory mother board would, in retrospect, contribute to the dispute that followed the Borgward a bankruptcy proceeding.
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About 28 July 1961 Semler, as Chairman of the supervisory board joined the directors on 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 the business enterprise to continue to trade while as well protecting the interests regarding 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” possess suggested that Semler, for reasons of his or her own, never had any intention of allowing the Borgward auto-businesses to be able to survive.
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