Borgward can be an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in the 1960s. The Borgward group created four brands of vehicles: 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 China investment, and unveiled the business's first new car throughout over 40 years, the BX7 at the 2015 International Motor Present.The origins of Bremen's most significant auto-business resume 1905 with the institution in nearby Varel on the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself of "Namag", maker of the Lloyd auto. 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 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 your scope of his auto business, and he took control of computer.
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The first "automobile" Carl Borgward created was the 1924 Blitzkarren (lightning cart), a sort of tiny 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 quite a few for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the still three wheeler timber presented synthetic leather bodied 5 as well as 7 hp Goliath Pioneer. Borgward turned his focus on the other businesses and led the development in the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 along with in 1939 the identify was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from companies he had acquired over time to found three individual 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 to be a single entity, but in a business operated by way of a man to whom delegation would not come naturally the spreading of legal entities even so added unhelpful layers of complexity over the 1950s and encouraged a broadening on the range which ultimately proved financially unsustainable using the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.One of the top engineers at Borgward through 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 for that life of the organization. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (which has been also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such while air suspension and automated transmission, the company had trouble competing in the marketplace. While larger companies including Opel and VW took selling point of economies of scale along with kept their prices low to find market share, Borgward's cost structure was even higher than necessary for its sizing, as it basically operated as four tiny independent companies and don't implemented such basic cost reduction strategies as shared development and parts sharing involving the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced as a water-cooled boxer with entrance wheel drive, but plagued with problems for example water leakage and gearbox snags. Lloyd lost money on the car just about the most was more expensive compared to its direct competitors.In 1961, the company was forced into liquidation by credit card 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 this creditors were paid fully, there was still several. 5 million Marks remaining from the business.
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Reviews of difficulties at Borgward surfaced in a article that appeared in Germany's leading news journal, “Der Spiegel” on fourteen 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 front cover. It was strongly critical of Carl Borgward's enterprise approach, and included many of the arguments later advanced to explain or justify the businesses demise. The widest range associated with cars from any producer in Germany, produced by three till recently operationally autonomous companies (Borgward, Goliath and Lloyd) was supporting a turnover of only 650 million Signifies, placing the overall sales value from the combined Borgward auto firms only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation of new and modified designs featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") provided rise to components which many times did not work, broke down or dropped apart, resulting in massive payments for pre-delivery remediation and/or post delivery warranty work that found their made use of to the company.The December 1960 Spiegel article was not the only serious general public criticism targeting Borgward right now: suddenly stridently negative (in case more succinct) comments also resulted in in the influential mass-market Bild magazine and in television reports. Critical media commentaries also appeared concerning large loans on the Borgward Group provided by the local Landesbank.It is apparent that the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses for instance auto manufacturing use his or her expensive machines and tools most efficiently whenever they use them constantly at full capacity, but the car market in Europe in the 1950s/60s was more seasonal than today, with sales diminishing within Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars at the end of 1960 was greater than usual, reflecting ambitious growth options, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered by the North American dealers within 1960 (and from the 12, 000 delivered to all of them) 6, 000 might have being taken back following a slump in North american demand. (Borgward was not the one European auto maker hit by way of a North American slump successful for imported cars throughout 1960. In the same season two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached the lender for a further 1 million Marks of credit history, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators opted for provide. However, following the flood connected with critical press comment your senators withdrew their promise. 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 a very still hostile media, Borgward agreed to this senate’s terms on some February 1961, thereby averting the bankruptcy from the business.The Bremen Senate also insisted on appointing its very own nominee as chairman of the company’s supervisory board. The man they decided to go with was Johannes Semler which reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice towards the breadth of Semler’s vocation. He had studied law at university and worked initially like a lawyer. The scion of a top Hamburg political family, in 1945 he received himself been a founding member of the centre-right CSU celebration, and was a member of the Bundestag between 1950 in addition to 1953. Despite his Hamburg roots, Semler was by on this occasion based in Munich, with a network of contacts within the Bavarian establishment that probably included fellow CSU politician and 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 to be able to chair the Borgward supervisory panel would, in retrospect, contribute to the conflict that followed the Borgward bankruptcy.
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On 28 July 1961 Semler, as Chairman of this supervisory board joined the directors on 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 at the same time protecting the interests of 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” include suggested that Semler, for reasons of their own, never had any goal of allowing the Borgward auto-businesses to help survive.
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