Borgward can be an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in the 1960s. The Borgward group created four brands of autos: 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 Chinese investment, and unveiled the business's first new car in over 40 years, the BX7 at the actual 2015 International Motor Show.The origins of Bremen's most significant auto-business get back on 1905 with the business in nearby Varel with the "Hansa Automobilgesellschaft" and the muse in Bremen itself connected with "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economic situation then confronting Germany, the business failed to prosper and by the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator on 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 of it.
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The 1st "automobile" Carl Borgward developed was the 1924 Blitzkarren (turbo cart), a sort of teeny three-wheeled van with a couple of 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 most of them for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the still three wheeler timber framed synthetic leather bodied 5 or maybe 7 hp Goliath Founder. Borgward turned his focus on the other businesses and led the development in the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 in addition to in 1939 the title was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from companies he had acquired in the past to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business each time of austerity and rationing. For many purposes the companies would be run to be a single entity, but in a business operated by way of man to whom delegation didn't come naturally the growth of legal entities however added unhelpful layers of complexity through the 1950s and encouraged a broadening with the range which ultimately proved financially unsustainable with all the sales volumes achievable. In 1949 company shown 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 popular model and remained in production for the life of the business. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (that is also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such seeing that air suspension and intelligent transmission, the company had trouble competing in the market. While larger companies just like Opel and VW took advantage of economies of scale as well as kept their prices low to realize market share, Borgward's cost structure was even beyond necessary for its size, as it basically handled as four tiny independent companies and never implemented such basic charge reduction strategies as mutual development and parts sharing between company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced to be 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 although it was more expensive in comparison with its direct competitors.In 1961, the company was required into liquidation by collectors. Carl Borgward died inside July 1963, still insisting the company were being technically solvent. This proved to be true within the sense that after the creditors were paid in full, there was still four. 5 million Marks left over from the business.
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Reviews of difficulties at Borgward surfaced in the article that appeared in Germany's leading news magazine, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by using 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 with the arguments later advanced to spell out or justify the corporation's demise. The widest range associated with cars from any manufacturer in Germany, produced by three right up until recently operationally autonomous firms (Borgward, Goliath and Lloyd) has been supporting a turnover associated with only 650 million Represents, placing the overall sales value from your combined Borgward auto organizations only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation regarding new and modified versions featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") gave rise to components which excessively did not work, broke down or fell apart, resulting in massive costs for pre-delivery remediation and/or publish delivery warranty work that found their in the past to the company.The December 1960 Spiegel article was not the only serious public criticism targeting Borgward right now: suddenly stridently negative (when more succinct) comments also resulted in 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 by the local Landesbank.It is apparent which the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses including auto manufacturing use their particular expensive machines and tools most efficiently whenever they use them constantly on full capacity, but the car market in Europe inside the 1950s/60s was more in season than today, with sales diminishing inside Winter, then peaking in early summer months: Borgward’s inventory of unsold cars towards the end of 1960 was greater than usual, reflecting ambitious growth strategies, 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 in 1960 (and on the 12, 000 delivered to these) 6, 000 might have to be taken back following a slump in American demand. (Borgward was not the only real European auto maker hit by the North American slump widely used for imported cars while in 1960. In the same 12 months two ships carrying Renault Dauphines were turned last 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 the financial institution for a further 1 million Marks of credit score, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators agreed to provide. However, following the flood connected with critical press comment the senators withdrew their promise. They now required Carl Borgward to pledge the business itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in a very still hostile media, Borgward agreed to the particular senate’s terms on 4 February 1961, thereby averting the bankruptcy in the business.The Bremen Senate additionally insisted on appointing a unique nominee as chairman of the company’s supervisory board. The man they select was Johannes Semler to 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 legislations at university and worked initially as a lawyer. The scion of a respected Hamburg political family, in 1945 he had himself been a founding person in the centre-right CSU get together, and was a person in the Bundestag between 1950 as well as 1953. Despite his Hamburg beginnings, Semler was by this time around 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 the top administrative position inside Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators in order to chair the Borgward supervisory aboard would, in retrospect, contribute to the debate that followed the Borgward personal bankruptcy.
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About 28 July 1961 Semler, as Chairman of this supervisory board joined the directors from the three companies Borgward, Goliath and Lloyd to instigate proceedings to the establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the company to continue to trade while simultaneously protecting the interests associated with creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of his very own, never had any objective of allowing the Borgward auto-businesses to help survive.
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