Borgward is usually an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in the 1960s. The Borgward group created four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's grand son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from China investment, and unveiled the firm's first new car within over 40 years, the BX7 at the 2015 International Motor Present.The origins of Bremen's most significant auto-business get back to 1905 with the establishment in nearby Varel on the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself associated with "Namag", maker of the Lloyd auto. 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 because of the late 1920s faced chapter 7. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand this scope of his auto business, and he took control than it.
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The 1st "automobile" Carl Borgward intended was the 1924 Blitzkarren (super cart), a sort of little 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 ordered for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 as well as 7 hp Goliath Founder. Borgward turned his focus on the other businesses and led the development from the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 along with in 1939 the name was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from corporations he had acquired in the past to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business at a time of austerity and rationing. For many purposes the lenders would be run as being a single entity, but in a business operated by a man to whom delegation failed to come naturally the spreading of legal entities even so added unhelpful layers of complexity with the 1950s and encouraged a broadening on the range which finally proved financially unsustainable while using sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.On the list of 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 widely used model and remained in production to the life of the corporation. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers in the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (which was also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such since air suspension and automatic transmission, the company had trouble competing available. While larger companies similar to Opel and VW took selling point of economies of scale and kept their prices low to find market share, Borgward's cost structure was even more than necessary for its measurement, as it basically operated as four tiny independent companies and not implemented such basic price reduction strategies as joint development and parts sharing between company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced being a water-cooled boxer with entry wheel drive, but plagued with problems for instance water leakage and gearbox mistakes. Lloyd lost money on the car although it was more expensive compared to its direct competitors.In 1961, the company was compelled into liquidation by lenders. Carl Borgward died throughout July 1963, still insisting the company were being technically solvent. This proved to be true inside sense that after the actual creditors were paid entirely, there was still 5. 5 million Marks remaining from the business.
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Accounts of difficulties at Borgward surfaced within the article that appeared throughout Germany's leading news publication, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly critical of Carl Borgward's enterprise approach, and included many in the arguments later advanced to explain or justify the business's demise. The widest range associated with cars from any maker in Germany, produced by three till recently operationally autonomous businesses (Borgward, Goliath and Lloyd) has been supporting a turnover involving only 650 million Represents, placing the overall sales value from your combined Borgward auto companies only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation involving new and modified designs featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") presented rise to components which all too often did not work, broke down or fell into apart, resulting in massive costs for pre-delivery remediation and/or submit delivery warranty work that found their in the past to the company.The December 1960 Spiegel article has not been the only serious open public criticism targeting Borgward right now: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild paper and in television reports. Critical media commentaries furthermore appeared concerning large loans on the Borgward Group provided by the local Landesbank.It is apparent that the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses such as auto manufacturing use their own expensive machines and tools most efficiently should they use them constantly in full capacity, but the car market in Europe in the 1950s/60s was more temporary than today, with sales diminishing inside Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars right at the end of 1960 was beyond usual, reflecting ambitious growth strategies, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered through the North American dealers throughout 1960 (and from the 12, 000 delivered to all of them) 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 a North American slump widely used for imported cars during 1960. In the same 12 months two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in Big apple were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached your banker for a further just one million Marks of credit, the loan to be backed by a guarantee from the Bremen local government which initially the Bremen senators decided to provide. However, following the flood regarding critical press comment the senators withdrew their promise. 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 the senate’s terms on 4 February 1961, thereby averting the bankruptcy on the business.The Bremen Senate in addition insisted on appointing its own nominee as chairman from the company’s supervisory board. The man they select was Johannes Semler to whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice for the breadth of Semler’s vocation. He had studied legislations at university and worked initially like a lawyer. The scion of a number one Hamburg political family, in 1945 he got himself been a founding member of the centre-right CSU party, and was a member of the Bundestag between 1950 and also 1953. Despite his Hamburg beginning, Semler was by now based in Munich, with a network of contacts inside the Bavarian establishment that almost certainly included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position from the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators in order to chair the Borgward supervisory table would, in retrospect, contribute to the hot debate that followed the Borgward individual bankruptcy.
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About 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors from the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided to get a court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while at the same time protecting the interests of creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of his very own, never had any intent of allowing the Borgward auto-businesses to help survive.
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