Borgward is an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in the actual 1960s. The Borgward group developed four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's grand son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the company's first new car in over 40 years, the BX7 at the 2015 International Motor Display.The origins of Bremen's most significant auto-business go back to 1905 with the place in nearby Varel from the "Hansa Automobilgesellschaft" and the walls in Bremen itself involving "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and because of the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand the actual scope of his auto business, and he took control of computer.
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The very first "automobile" Carl Borgward made was the 1924 Blitzkarren (super cart), a sort of small three-wheeled van with only two hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the however three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Founder. Borgward turned his awareness of the other businesses and led the development with the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 in addition to in 1939 the brand was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from corporations he had acquired through the years to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business at a time of austerity and rationing. For many purposes the businesses would be run as a single entity, but in a business operated by the man to whom delegation would not come naturally the proliferation of legal entities nonetheless added unhelpful layers of complexity throughout the 1950s and encouraged a broadening in the range which ultimately proved financially unsustainable with all the sales volumes achievable. In 1949 company presented 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 commenced in 1954. The Isabella would become Borgward's most widely used model and remained in production to the life of the firm. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that was also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such seeing that air suspension and automated transmission, the company had trouble competing available. While larger companies like Opel and VW took advantage of economies of scale and also kept their prices low to realize market share, Borgward's cost structure was even higher than necessary for its measurement, as it basically controlled as four tiny independent companies and don't implemented such basic charge reduction strategies as combined development and parts sharing involving the company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced being a water-cooled boxer with the front wheel drive, but plagued with problems for instance water leakage and gearbox mistakes. Lloyd lost money on the car community . was more expensive as compared to its direct competitors.In 1961, the company was pressured into liquidation by collectors. Carl Borgward died in July 1963, still insisting the company ended up technically solvent. This proved to be true within the sense that after the particular creditors were paid entirely, there was still 4. 5 million Marks left from the business.
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Stories of difficulties at Borgward surfaced in the article that appeared with Germany's leading news journal, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly crucial of Carl Borgward's enterprise approach, and included many of the arguments later advanced to explain or justify the businesses demise. The widest range connected with cars from any maker in Germany, produced by three until eventually recently operationally autonomous businesses (Borgward, Goliath and Lloyd) ended up being supporting a turnover involving only 650 million Signifies, placing the overall sales value in the combined Borgward auto companies only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation connected with new and modified products featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") offered rise to components which too much did not work, broke down or fell into apart, resulting in massive bills for pre-delivery remediation and/or post delivery warranty work that found their way back to the company.The December 1960 Spiegel article was not the only serious open public criticism targeting Borgward at this time: suddenly stridently negative (in case more succinct) comments also turned up in the influential mass-market Bild paper and in television stories. Critical media commentaries in addition appeared concerning large loans towards the Borgward Group provided with the local Landesbank.It is apparent that the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses such as auto manufacturing use their own expensive machines and tools most efficiently should they use them constantly on full capacity, but the car market in Europe from the 1950s/60s was more periodic than today, with sales diminishing in Winter, then peaking in early summer months: Borgward’s inventory of unsold cars at the end of 1960 was above usual, reflecting ambitious growth strategies, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered because of the North American dealers with 1960 (and in the 12, 000 delivered to all of them) 6, 000 might have to be taken back following a slump in North american demand. (Borgward was not the one 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 in mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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At the conclusion of December 1960 Borgward approached the bank for a further one particular million Marks of credit score, the loan to be backed by way of a guarantee from the Bremen regional government which initially the Bremen senators agreed to provide. However, following the flood connected with critical press comment your 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 in a still hostile media, Borgward agreed to the senate’s terms on several February 1961, thereby averting the bankruptcy in the business.The Bremen Senate additionally insisted on appointing its own nominee as chairman in the company’s supervisory board. The man they selected was Johannes Semler whom reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice towards the breadth of Semler’s vocation. He had studied rules at university and worked initially as being a lawyer. The scion of a top Hamburg political family, in 1945 he got himself been a founding person in the centre-right CSU party, and was a person in the Bundestag between 1950 as well as 1953. Despite his Hamburg origins, Semler was by these times based in Munich, with a network of contacts within the Bavarian establishment that most likely included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position from the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators to chair the Borgward supervisory panel would, in retrospect, contribute to the debate that followed the Borgward bankruptcy.
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With 28 July 1961 Semler, as Chairman of the supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the organization to continue to trade while while doing so protecting the interests involving creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of his own, never had any goal of allowing the Borgward auto-businesses to survive.
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