Borgward is usually an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in your 1960s. The Borgward group made four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from China investment, and unveiled the firm's first new car with over 40 years, the BX7 at the actual 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business go back to 1905 with the place in nearby Varel of the "Hansa Automobilgesellschaft" and the walls in Bremen itself associated with "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and with the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the actual scope of his auto business, and he took control of the usb ports.
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The very first "automobile" Carl Borgward made was the 1924 Blitzkarren (turbo cart), a sort of tiny 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 ordered for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the nevertheless three wheeler timber framed synthetic leather bodied 5 as well as 7 hp Goliath Leading. Borgward turned his awareness of 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 identify was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from businesses he had acquired in the past to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business each time of austerity and rationing. For many purposes the companies would be run being a single entity, but in a business operated by the man to whom delegation failed to come naturally the growth of legal entities nonetheless added unhelpful layers of complexity through the 1950s and encouraged a broadening of the range which in the long run proved financially unsustainable with all the 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 with the life of the organization. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (which was also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such since air suspension and automatic transmission, the company had trouble competing available. While larger companies including Opel and VW took benefit of economies of scale along with kept their prices low to get market share, Borgward's cost structure was even more than necessary for its sizing, as it basically run as four tiny independent companies and don't implemented such basic price tag reduction strategies as joint development and parts sharing between company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced being a water-cooled boxer with front wheel drive, but plagued with problems including water leakage and gearbox secrets. Lloyd lost money on the car though it was more expensive as compared to its direct competitors.In 1961, the company was pushed into liquidation by lenders. Carl Borgward died throughout July 1963, still insisting the company were being technically solvent. This proved to be true inside the sense that after the actual creditors were paid in full, there was still 5. 5 million Marks remaining from the business.
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Stories of difficulties at Borgward surfaced in an article that appeared throughout Germany's leading news newspaper, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly vital of Carl Borgward's company approach, and included many of the arguments later advanced to explain or justify the corporation's demise. The widest range connected with cars from any supplier in Germany, produced by three till recently operationally autonomous businesses (Borgward, Goliath and Lloyd) had been supporting a turnover associated with only 650 million Scars, placing the overall sales value in the combined Borgward auto companies 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 of new and modified versions featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") offered rise to components which too much did not work, broke down or chop down apart, resulting in massive payments for pre-delivery remediation and/or submit delivery warranty work that found their in the past to the company.The December 1960 Spiegel article wasn't the only serious public criticism targeting Borgward at the moment: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild classifieds and in television reviews. Critical media commentaries additionally appeared concerning large loans on the Borgward Group provided by the local Landesbank.It is apparent which the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses for instance auto manufacturing use their own expensive machines and tools most efficiently as long as they use them constantly from full capacity, but the car market in Europe inside the 1950s/60s was more temporary than today, with sales diminishing throughout Winter, then peaking in early summer months: Borgward’s inventory of unsold cars towards the end of 1960 was more than usual, reflecting ambitious growth options, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered through the North American dealers throughout 1960 (and with the 12, 000 delivered to these individuals) 6, 000 might have being taken back following a slump in Us demand. (Borgward was not really the only European auto maker hit by way of North American slump popular for imported cars while in 1960. In the same year 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 the guarantee from the Bremen local government which initially the Bremen senators consented to provide. However, following the flood associated with critical press comment the senators withdrew their assurance. 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 the still hostile media, Borgward agreed to the senate’s terms on 5 February 1961, thereby averting the bankruptcy on the business.The Bremen Senate also insisted on appointing its own nominee as chairman in the company’s supervisory board. The man they chose was Johannes Semler which reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice to the breadth of Semler’s occupation. He had studied rules at university and worked initially as a lawyer. The scion of a number one Hamburg political family, in 1945 he acquired himself been a founding person in the centre-right CSU party, 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 inside the Bavarian establishment that probably included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position from the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators for you to chair the Borgward supervisory board would, in retrospect, contribute to the controversy that followed the Borgward a bankruptcy proceeding.
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In 28 July 1961 Semler, as Chairman of the particular 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 for a court sanctioned scheme of arrangement enabling the business to continue to trade while while doing so protecting the interests of creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his own, never had any purpose of allowing the Borgward auto-businesses for you to survive.
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