Borgward can be an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in the 1960s. The Borgward group generated four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grandson, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the businesses first new car within over 40 years, the BX7 at this 2015 International Motor Present.The origins of Bremen's most significant auto-business go back to 1905 with the business in nearby Varel of the "Hansa Automobilgesellschaft" and the walls in Bremen itself associated with "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economic situation then confronting Germany, the business failed to prosper and from the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand the particular scope of his automobile business, and he took control than it.
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The primary "automobile" Carl Borgward made was the 1924 Blitzkarren (super cart), a sort of little three-wheeled van with 2 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 gotten to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the however three wheeler timber framed synthetic leather bodied 5 as well as 7 hp Goliath Leading. Borgward turned his awareness of the other businesses in addition to led the development of the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 and in 1939 the identify was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from businesses he had acquired over the years to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business during a period of austerity and rationing. For many purposes the firms would be run like a single entity, but in a business operated with a man to whom delegation would not come naturally the proliferation of legal entities however added unhelpful layers of complexity throughout the 1950s and encouraged a broadening of the range which eventually proved financially unsustainable while using sales volumes achievable. In 1949 company presented 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 started in 1954. The Isabella would become Borgward's hottest model and remained in production for the life of the corporation. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these to become 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 since air suspension and intelligent transmission, the company had trouble competing in the marketplace. While larger companies including Opel and VW took benefit of economies of scale and also kept their prices low to find market share, Borgward's cost structure was even greater than necessary for its measurement, as it basically operated as four tiny independent companies and not implemented such basic charge reduction strategies as articulation development and parts sharing between company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced like a water-cooled boxer with entry wheel drive, but plagued with problems for instance water leakage and gearbox snags. Lloyd lost money on the car although it was more expensive compared to its direct competitors.In 1961, the company was pressured into liquidation by creditors. Carl Borgward died within July 1963, still insisting the company were being technically solvent. This proved to be true inside sense that after your creditors were paid entirely, there was still some. 5 million Marks left from the business.
Stories of difficulties at Borgward surfaced within an article that appeared with Germany's leading news mag, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly crucial of Carl Borgward's company approach, and included many on the arguments later advanced to go into detail or justify the company's demise. The widest range of cars from any manufacturer in Germany, produced by three until eventually recently operationally autonomous corporations (Borgward, Goliath and Lloyd) seemed to be supporting a turnover of only 650 million Marks, placing the overall sales value from your combined Borgward auto companies only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation connected with new and modified products featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") afforded rise to components which too much did not work, broke down or dropped apart, resulting in massive charges for pre-delivery remediation and/or article delivery warranty work that found their in the past to the company.The December 1960 Spiegel article was not the only serious general public criticism targeting Borgward at this time: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild magazine and in television reviews. Critical media commentaries also appeared concerning large loans on the Borgward Group provided through the local Landesbank.It is apparent that the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses such as auto manufacturing use their particular expensive machines and tools most efficiently as long as they use them constantly on full capacity, but the car market in Europe from the 1950s/60s was more seasonal than today, with sales diminishing inside Winter, then peaking in early summer months: Borgward’s inventory of unsold cars at the end of 1960 was more than usual, reflecting ambitious growth ideas, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered with the North American dealers within 1960 (and with the 12, 000 delivered to all of them) 6, 000 might have to be taken back following a slump in United states demand. (Borgward was not the only real European auto maker hit by way of a North American slump widely used for imported cars during 1960. In the same 12 months two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached your banker for a further 1 million Marks of credit rating, 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 involving critical press comment the particular senators withdrew their ensure. They now required Carl Borgward to pledge this company itself to the state in return 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 of the business.The Bremen Senate additionally insisted on appointing its very own nominee as chairman of the company’s supervisory board. The man they selected was Johannes Semler with whom reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice towards the breadth of Semler’s profession. He had studied legislation at university and worked initially like a lawyer. The scion of a respected Hamburg political family, in 1945 he had himself been a founding person in the centre-right CSU gathering, and was a member of the Bundestag between 1950 and 1953. Despite his Hamburg sources, Semler was by now based in Munich, with a network of contacts inside the Bavarian establishment that probably included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position from the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators to chair the Borgward supervisory board would, in retrospect, contribute to the dispute that followed the Borgward personal bankruptcy.
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Upon 28 July 1961 Semler, as Chairman of this supervisory board joined the directors from the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling the business to continue to trade while concurrently protecting the interests of creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of his or her own, never had any intention of allowing the Borgward auto-businesses for you to survive.
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