Borgward can be an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in the particular 1960s. The Borgward group made four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the firm's first new car inside over 40 years, the BX7 at your 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business resume 1905 with the establishment in nearby Varel from the "Hansa Automobilgesellschaft" and the walls in Bremen itself involving "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 to 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 personal bankruptcy. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand the particular scope of his automotive business, and he took control of computer.
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The initial "automobile" Carl Borgward developed was the 1924 Blitzkarren (turbo cart), a sort of little three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success already 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 movie director of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the even now three wheeler timber framed synthetic leather bodied 5 or even 7 hp Goliath Pioneer. Borgward turned his focus on the other businesses as well as led the development from the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 in addition to in 1939 the name was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from companies he had acquired in the past to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business at the same time of austerity and rationing. For many purposes the companies would be run as being a single entity, but in a business operated by way of a man to whom delegation failed to come naturally the proliferation of legal entities nonetheless added unhelpful layers of complexity over the 1950s and encouraged a broadening in the range which in the end proved financially unsustainable with the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.On the list of top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella commenced in 1954. The Isabella would become Borgward's most popular model and remained in production for your life of the company. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (which was also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such while air suspension and programmed transmission, the company had trouble competing available on the market. While larger companies including Opel and VW took advantage of economies of scale and also kept their prices low to find market share, Borgward's cost structure was even beyond necessary for its dimension, as it basically controlled as four tiny independent companies and don't implemented such basic cost reduction strategies as mutual development and parts sharing involving the company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced as a water-cooled boxer with entrance wheel drive, but plagued with problems such as water leakage and gearbox errors. Lloyd lost money on the car though it was more expensive in comparison with its direct competitors.In 1961, the company was forced into liquidation by lenders. Carl Borgward died in July 1963, still insisting the company have been technically solvent. This proved to be true within the sense that after the actual creditors were paid 100 %, there was still some. 5 million Marks left from the business.
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Accounts of difficulties at Borgward surfaced within the article that appeared throughout Germany's leading news magazine, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly vital of Carl Borgward's enterprise approach, and included many in the arguments later advanced to go into detail or justify the corporation's demise. The widest range involving cars from any manufacturer in Germany, produced by three till recently operationally autonomous firms (Borgward, Goliath and Lloyd) was supporting a turnover involving only 650 million Scars, placing the overall sales value from your combined Borgward auto firms only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation connected with new and modified designs featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") afforded rise to components which too often did not work, broke down or chop down apart, resulting in massive bills for pre-delivery remediation and/or write-up delivery warranty work that found their long ago to the company.The December 1960 Spiegel article hasn't been the only serious general public criticism targeting Borgward right now: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild newspapers and in television studies. Critical media commentaries furthermore appeared concerning large loans towards the Borgward Group provided through the local Landesbank.It is apparent the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses for instance auto manufacturing use their expensive machines and tools most efficiently if they use them constantly at full capacity, but the car market in Europe inside the 1950s/60s was more seasonal than today, with sales diminishing inside Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars at the end of 1960 was greater than usual, reflecting ambitious growth options, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered with the North American dealers throughout 1960 (and with the 12, 000 delivered to all of them) 6, 000 might have to be taken back following a slump in United states demand. (Borgward was not the one European auto maker hit by way of a North American slump in demand for imported cars in the course of 1960. In the same 12 months two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached the bank for a further one million Marks of credit rating, the loan to be backed by a guarantee from the Bremen regional government which initially the Bremen senators opted for provide. However, following the flood associated with critical press comment your senators withdrew their promise. They now required Carl Borgward to pledge the organization 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 senate’s terms on four February 1961, thereby averting the bankruptcy on the business.The Bremen Senate likewise insisted on appointing its own nominee as chairman in the company’s supervisory board. The man they select was Johannes Semler with whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice towards breadth of Semler’s occupation. He had studied regulation at university and worked initially as a lawyer. The scion of a leading Hamburg political family, in 1945 he got himself been a founding member of the centre-right CSU party, and was a person in the Bundestag between 1950 along with 1953. Despite his Hamburg origins, Semler was by this time around based in Munich, with a network of contacts within 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 in the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators for you to chair the Borgward supervisory mother board would, in retrospect, contribute to the hot debate that followed the Borgward a bankruptcy proceeding.
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With 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the company to continue to trade while concurrently protecting the interests of creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of his own, never had any intent of allowing the Borgward auto-businesses to be able to survive.
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