Borgward is usually an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in the actual 1960s. The Borgward group developed four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grand son, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the company's first new car with over 40 years, the BX7 at your 2015 International Motor Show.The origins of Bremen's most significant auto-business get back to 1905 with the place in nearby Varel in the "Hansa Automobilgesellschaft" and the foundation in Bremen itself of "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and through the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the scope of his auto business, and he took control from it.
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The first "automobile" Carl Borgward designed was the 1924 Blitzkarren (lightning cart), a sort of little three-wheeled van with 2 hp (1. 5 kW), which was an enormous success on the market gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the director 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 nonetheless three wheeler timber framed synthetic leather bodied 5 or maybe 7 hp Goliath Pioneer. Borgward turned his awareness of the other businesses and led the development of the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and in 1939 the title was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from companies he had acquired in recent times to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business at the same time of austerity and rationing. For many purposes the companies would be run as a single entity, but in a business operated by way of man to whom delegation didn't come naturally the expansion of legal entities however added unhelpful layers of complexity throughout the 1950s and encouraged a broadening from the range which ultimately proved financially unsustainable using the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.One of the 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 popular model and remained in production to the life of the firm. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (which was also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such seeing that air suspension and programmed transmission, the company had trouble competing available. While larger companies similar to Opel and VW took benefit from economies of scale along with kept their prices low to realize market share, Borgward's cost structure was even higher than necessary for its dimension, as it basically managed as four tiny independent companies and don't implemented such basic price tag reduction strategies as combined development and parts sharing between the company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced as a water-cooled boxer with entry wheel drive, but plagued with problems like water leakage and gearbox glitches. Lloyd lost money on the car although it was more expensive in comparison with its direct competitors.In 1961, the company was pushed into liquidation by collectors. Carl Borgward died with July 1963, still insisting the company were being technically solvent. This proved to be true in the sense that after this creditors were paid 100 %, there was still several. 5 million Marks left from the business.
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Stories of difficulties at Borgward surfaced in a article that appeared in Germany's leading news magazine, “Der Spiegel” on 15 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 top cover. It was strongly vital of Carl Borgward's company approach, and included many on the arguments later advanced to spell out or justify the businesses demise. The widest range associated with cars from any manufacturer in Germany, produced by three till recently operationally autonomous companies (Borgward, Goliath and Lloyd) ended up being supporting a turnover connected with only 650 million Signifies, placing the overall sales value from your combined Borgward auto corporations only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation associated with new and modified types featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") afforded rise to components which all too often did not work, broke down or dropped apart, resulting in massive costs for pre-delivery remediation and/or publish delivery warranty work that found their way back to the company.The December 1960 Spiegel article hasn't been the only serious general public criticism targeting Borgward at the moment: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild magazine and in television reports. Critical media commentaries furthermore appeared concerning large loans towards Borgward Group provided from 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 the expensive machines and tools most efficiently whenever they use them constantly at full capacity, but the car market in Europe inside the 1950s/60s was more seasons than today, with sales diminishing in Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars at the end of 1960 was higher than usual, reflecting ambitious growth strategies, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered with the North American dealers throughout 1960 (and in 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 North American slump successful for imported cars while in 1960. In the same year two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the lending company for a further just one million Marks of credit rating, the loan to be backed with a guarantee from the Bremen regional government which initially the Bremen senators decided to provide. However, following the flood involving critical press comment the particular senators withdrew their assure. They now required Carl Borgward to pledge the organization itself to the state in substitution 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 4 February 1961, thereby averting the bankruptcy with the business.The Bremen Senate furthermore insisted on appointing a unique nominee as chairman with the company’s supervisory board. The man they decided was Johannes Semler whom reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice on the breadth of Semler’s job. He had studied legislations at university and worked initially like a lawyer. The scion of a top Hamburg political family, in 1945 he experienced 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 origins, Semler was by this time around based in Munich, with a network of contacts inside 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 inside the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators for you to chair the Borgward supervisory panel would, in retrospect, contribute to the debate that followed the Borgward individual bankruptcy.
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With 28 July 1961 Semler, as Chairman of your supervisory board joined the directors on 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 concurrently protecting the interests of creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November with 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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