Borgward is surely an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in your 1960s. The Borgward group produced four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the company'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 go back to 1905 with the organization in nearby Varel from the "Hansa Automobilgesellschaft" and the walls in Bremen itself regarding "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 in order 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 through the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the particular scope of his vehicle business, and he took control from it.
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The very first "automobile" Carl Borgward designed was the 1924 Blitzkarren (super cart), a sort of teeny 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 purchased for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the however three wheeler timber presented synthetic leather bodied 5 as well as 7 hp Goliath Master. Borgward turned his attention to the other businesses and led the development from the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 as well as in 1939 the title was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from corporations he had acquired over time to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business each time of austerity and rationing. For many purposes the lenders would be run as being a single entity, but in a business operated by the man to whom delegation didn't come naturally the growth of legal entities on the other hand added unhelpful layers of complexity from the 1950s and encouraged a broadening of the range which in the end proved financially unsustainable while using sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.On the list of top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most widely used 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 type of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that is also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such seeing that air suspension and intelligent 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 beyond necessary for its sizing, as it basically operated as four tiny independent companies and don't implemented such basic cost reduction strategies as joint development and parts sharing between company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced being a water-cooled boxer with the front wheel drive, but plagued with problems for example 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 required into liquidation by lenders. Carl Borgward died with July 1963, still insisting the company have been technically solvent. This proved to be true within the sense that after this creditors were paid 100 %, there was still 5. 5 million Marks left over from the business.
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Studies of difficulties at Borgward surfaced within an article that appeared inside Germany's leading news journal, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places recurring 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 business approach, and included many of the arguments later advanced to describe or justify the corporation's demise. The widest range involving cars from any company in Germany, produced by three until finally recently operationally autonomous organizations (Borgward, Goliath and Lloyd) was supporting a turnover regarding only 650 million Scars, placing the overall sales value from the combined Borgward auto businesses only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation of new and modified types featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") gave rise to components which excessively did not work, broke down or fell apart, resulting in massive payments for pre-delivery remediation and/or post delivery warranty work that found their in the past to the company.The December 1960 Spiegel article hasn't been the only serious general public criticism targeting Borgward currently: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild newspapers and in television studies. Critical media commentaries in addition appeared concerning large loans for the Borgward Group provided through the local Landesbank.It is apparent how 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 as long as they use them constantly on full capacity, but the car market in Europe in the 1950s/60s was more in season than today, with sales diminishing throughout Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was more than usual, reflecting ambitious growth ideas, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered through the North American dealers inside 1960 (and on the 12, 000 delivered to these people) 6, 000 might have to be taken back following a slump in United states demand. (Borgward was not the one European auto maker hit by way of North American slump in demand for imported cars in the course of 1960. In the same year two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the financial institution for a further just one million Marks of credit rating, the loan to be backed by way of a guarantee from the Bremen regional government which initially the Bremen senators decided to provide. However, following the flood connected with critical press comment the actual senators withdrew their assure. They now required Carl Borgward to pledge the company 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 the senate’s terms on several February 1961, thereby averting the bankruptcy with the business.The Bremen Senate additionally insisted on appointing its own nominee as chairman on the company’s supervisory board. The man they decided was Johannes Semler who reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice for the breadth of Semler’s career. He had studied regulation at university and worked initially as a lawyer. The scion of a leading Hamburg political family, in 1945 he got himself been a founding member of the centre-right CSU get together, and was a person in the Bundestag between 1950 along with 1953. Despite his Hamburg beginning, Semler was by on this occasion based in Munich, with a network of contacts inside the Bavarian establishment that likely included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position inside the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators for you to chair the Borgward supervisory mother board would, in retrospect, contribute to the debate that followed the Borgward individual bankruptcy.
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In 28 July 1961 Semler, as Chairman of the supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the company to continue to trade while as well protecting the interests regarding creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of his or her own, never had any intent of allowing the Borgward auto-businesses to be able to survive.
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