Borgward is an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in the particular 1960s. The Borgward group developed four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from China investment, and unveiled the business's first new car in over 40 years, the BX7 at the particular 2015 International Motor Present.The origins of Bremen's most significant auto-business go back to 1905 with the business in nearby Varel in the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself of "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to 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 bankruptcy. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand your scope of his car business, and he took control of it.
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The initial "automobile" Carl Borgward created was the 1924 Blitzkarren (lightning cart), a sort of tiny 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 got it for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the still three wheeler timber presented synthetic leather bodied 5 or 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 brand-new Hansa Borgward 2000 in addition to in 1939 the identify was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from corporations he had acquired over the years to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business at a time 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 nonetheless added unhelpful layers of complexity throughout the 1950s and encouraged a broadening on the range which in the end proved financially unsustainable while using sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.Among the top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's most popular model and remained in production to the life of the firm. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that has been also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such as air suspension and intelligent transmission, the company had trouble competing available on the market. While larger companies just like Opel and VW took benefit from economies of scale in addition to kept their prices low to achieve market share, Borgward's cost structure was even beyond necessary for its measurement, as it basically controlled as four tiny independent companies and not implemented such basic price tag reduction strategies as joint development and parts sharing between company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced being a water-cooled boxer with the front wheel drive, but plagued with problems including water leakage and gearbox glitches. Lloyd lost money on the car community . was more expensive as compared to its direct competitors.In 1961, the company was forced into liquidation by credit card companies. Carl Borgward died throughout July 1963, still insisting the company had been technically solvent. This proved to be true inside the sense that after the creditors were paid 100 %, there was still 4. 5 million Marks left over from the business.
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Accounts of difficulties at Borgward surfaced within the article that appeared within Germany's leading news mag, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly essential of Carl Borgward's small business approach, and included many in the arguments later advanced to spellout or justify the businesses demise. The widest range regarding cars from any producer in Germany, produced by three until finally recently operationally autonomous corporations (Borgward, Goliath and Lloyd) had been supporting a turnover involving only 650 million Signifies, placing the overall sales value in the combined Borgward auto corporations only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation of new and modified types featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") gave rise to components which too often did not work, broke down or droped apart, resulting in massive bills for pre-delivery remediation and/or write-up delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article has not been the only serious community criticism targeting Borgward at this time: suddenly stridently negative (in the event that more succinct) comments also resulted in in the influential mass-market Bild classifieds and in television accounts. Critical media commentaries in addition appeared concerning large loans towards Borgward Group provided with the local Landesbank.It is apparent that this business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses such as auto manufacturing use their own expensive machines and tools most efficiently whenever they use them constantly with full capacity, but the car market in Europe within the 1950s/60s was more in season than today, with sales diminishing with Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars by the end of 1960 was more than usual, reflecting ambitious growth programs, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered from the North American dealers inside 1960 (and with the 12, 000 delivered to all of them) 6, 000 might have to become taken back following a slump in United states demand. (Borgward was not the one European auto maker hit with a North American slump successful for imported cars during 1960. In the same yr 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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At the end of December 1960 Borgward approached the lender for a further one particular million Marks of credit history, the loan to be backed by the guarantee from the Bremen local government which initially the Bremen senators decided provide. However, following the flood associated with critical press comment your senators withdrew their promise. They now required Carl Borgward to pledge the corporation itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in the still hostile media, Borgward agreed to your senate’s terms on several February 1961, thereby averting the bankruptcy with the business.The Bremen Senate in addition insisted on appointing its nominee as chairman in 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 job. He had studied law at university and worked initially to be a lawyer. The scion of a number one Hamburg political family, in 1945 he had himself been a founding member of the centre-right CSU bash, and was a member of the Bundestag between 1950 as well as 1953. Despite his Hamburg roots, Semler was by this time based in Munich, with a network of contacts in the Bavarian establishment that possibly included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position inside the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators in order to chair the Borgward supervisory mother board would, in retrospect, contribute to the dispute that followed the Borgward a bankruptcy proceeding.
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About 28 July 1961 Semler, as Chairman of your 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 any court sanctioned scheme of arrangement enabling the business to continue to trade while as well protecting the interests connected with creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath firms 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 objective of allowing the Borgward auto-businesses to be able to survive.
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