Borgward is an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in your 1960s. The Borgward group created four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grandson, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the corporation's first new car inside over 40 years, the BX7 at the particular 2015 International Motor Indicate.The origins of Bremen's most significant auto-business resume 1905 with the organization in nearby Varel on the "Hansa Automobilgesellschaft" and the building blocks 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 situation then confronting Germany, the business failed to prosper and from 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 the opportunity greatly to expand the actual scope of his car business, and he took control than it.
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The 1st "automobile" Carl Borgward created was the 1924 Blitzkarren (turbo cart), a sort of very small 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 purchased for delivery. The Reichspost ordered quite a few 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 nevertheless three wheeler timber framed synthetic leather bodied 5 or 7 hp Goliath Master. Borgward turned his focus on the other businesses as well as led the development with the Hansa Konsul. In February 1937, there came the completely 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 stayed in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from corporations he had acquired over time to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business at the same time of austerity and rationing. For many purposes the lenders would be run as a single entity, but in a business operated by 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 eventually proved financially unsustainable using the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.Among the top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most in-demand model and remained in production with the life of the firm. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these learning to be a successful Formula Two power unit (which has been also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such as air suspension and automated transmission, the company had trouble competing in the marketplace. While larger companies including Opel and VW took benefit from economies of scale in addition to kept their prices low to realize market share, Borgward's cost structure was even above necessary for its measurement, as it basically operated as four tiny independent companies and not implemented such basic cost reduction strategies as mutual development and parts sharing between your company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced as a water-cooled boxer with entrance wheel drive, but plagued with problems for example water leakage and gearbox mistakes. Lloyd lost money on the car even though it was more expensive when compared with its direct competitors.In 1961, the company was pressured into liquidation by creditors. Carl Borgward died inside July 1963, still insisting the company was technically solvent. This proved to be true inside the sense that after the actual creditors were paid in full, there was still four. 5 million Marks remaining from the business.
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Reports of difficulties at Borgward surfaced in an article that appeared inside Germany's leading news mag, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly essential of Carl Borgward's company approach, and included many from the arguments later advanced to explain or justify the firm's demise. The widest range involving cars from any supplier in Germany, produced by three until eventually recently operationally autonomous corporations (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 companies only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation associated with new and modified types featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") gave rise to components which too much did not work, broke down or droped apart, resulting in massive bills for pre-delivery remediation and/or publish delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article wasn't the only serious public criticism targeting Borgward right now: suddenly stridently negative (in case more succinct) comments also resulted in in the influential mass-market Bild paper and in television studies. Critical media commentaries furthermore appeared concerning large loans for the Borgward Group provided by the local Landesbank.It is apparent how 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 should they use them constantly on 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 early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was more than usual, reflecting ambitious growth options, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered from the North American dealers throughout 1960 (and on the 12, 000 delivered to these people) 6, 000 might have to become taken back following a slump in American demand. (Borgward was not the only European auto maker hit with a North American slump sought after for imported cars throughout 1960. In the same calendar year two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached your banker for a further one million Marks of credit rating, the loan to be backed with a guarantee from the Bremen regional government which initially the Bremen senators agreed to provide. However, following the flood associated 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 very still hostile media, Borgward agreed to the particular senate’s terms on 4 February 1961, thereby averting the bankruptcy on the business.The Bremen Senate also insisted on appointing its very own nominee as chairman of the company’s supervisory board. The man they select was Johannes Semler to whom reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice towards the breadth of Semler’s vocation. He had studied law at university and worked initially to be a lawyer. The scion of a leading Hamburg political family, in 1945 he received 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 beginnings, Semler was by these times based in Munich, with a network of contacts within the Bavarian establishment that most likely included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position in the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators to chair the Borgward supervisory board would, in retrospect, contribute to the conflict that followed the Borgward personal bankruptcy.
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Upon 28 July 1961 Semler, as Chairman of this 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 the court sanctioned scheme of arrangement enabling this company to continue to trade while simultaneously protecting the interests associated with 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 her own, never had any purpose of allowing the Borgward auto-businesses to survive.
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