Borgward is an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the particular 1960s. The Borgward group generated four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's grand son, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from China investment, and unveiled the businesses first new car throughout over 40 years, the BX7 at the 2015 International Motor Display.The origins of Bremen's most significant auto-business resume 1905 with the establishment in nearby Varel on the "Hansa Automobilgesellschaft" and the foundation in Bremen itself involving "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 economy then confronting Germany, the business failed to prosper and because of the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the scope of his car business, and he took control of the usb ports.
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The first "automobile" Carl Borgward designed was the 1924 Blitzkarren (lightning cart), a sort of little three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success on the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the nonetheless three wheeler timber presented synthetic leather bodied 5 or maybe 7 hp Goliath Leader. Borgward turned his attention to the other businesses and also led the development on 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 then the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from organizations he had acquired through the years to found three independent 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 businesses would be run being a single entity, but in a business operated with a man to whom delegation failed to come naturally the proliferation of legal entities even so added unhelpful layers of complexity from the 1950s and encouraged a broadening in the range which in the end proved financially unsustainable using the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.Among the top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's most in-demand model and remained in production for your life of the corporation. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (which was also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such while air suspension and programmed transmission, the company had trouble competing in the marketplace. While larger companies including Opel and VW took advantage of economies of scale along with kept their prices low to get market share, Borgward's cost structure was even higher than necessary for its sizing, as it basically controlled as four tiny independent companies and not implemented such basic cost reduction strategies as mutual development and parts sharing involving the company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced as being a water-cooled boxer with top wheel drive, but plagued with problems including water leakage and gearbox secrets. Lloyd lost money on the car community . was more expensive compared to its direct competitors.In 1961, the company was pushed into liquidation by credit card companies. Carl Borgward died with July 1963, still insisting the company ended up technically solvent. This proved to be true from the sense that after the creditors were paid 100 %, there was still several. 5 million Marks left over from the business.
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Accounts of difficulties at Borgward surfaced in the article that appeared within Germany's leading news magazine, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly crucial of Carl Borgward's enterprise approach, and included many from the arguments later advanced to spellout or justify the corporation's demise. The widest range of cars from any supplier in Germany, produced by three till recently operationally autonomous firms (Borgward, Goliath and Lloyd) ended up being supporting a turnover of only 650 million Signifies, placing the overall sales value on the combined Borgward auto organizations only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation associated with new and modified products featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") provided rise to components which excessively did not work, broke down or fell into apart, resulting in massive costs for pre-delivery remediation and/or post delivery warranty work that found their made use of to the company.The December 1960 Spiegel article had not been the only serious open criticism targeting Borgward at the moment: suddenly stridently negative (when more succinct) comments also turned up in the influential mass-market Bild classifieds and in television stories. Critical media commentaries furthermore appeared concerning large loans on the Borgward Group provided from the local Landesbank.It is apparent that this business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses for example auto manufacturing use the expensive machines and tools most efficiently should they use them constantly in full capacity, but the car market in Europe within the 1950s/60s was more seasonal than today, with sales diminishing inside Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars towards the end of 1960 was more than usual, reflecting ambitious growth strategies, 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 with 1960 (and from the 12, 000 delivered to these individuals) 6, 000 might have to be taken back following a slump in Us demand. (Borgward was not the only real European auto maker hit by way of North American slump in demand for imported cars throughout 1960. In the same 12 months two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the financial institution for a further just one million Marks of credit history, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators decided to provide. However, following the flood regarding critical press comment the 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 within a still hostile media, Borgward agreed to your senate’s terms on four February 1961, thereby averting the bankruptcy in the business.The Bremen Senate in addition insisted on appointing its very own nominee as chairman on the company’s supervisory board. The man they select was Johannes Semler to whom 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 regulation at university and worked initially like a lawyer. The scion of a top Hamburg political family, in 1945 he acquired 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 on this occasion based in Munich, with a network of contacts from the Bavarian establishment that likely included fellow CSU politician along with 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 for the reason that representative of the Bremen senators to be able to chair the Borgward supervisory mother board would, in retrospect, contribute to the controversy that followed the Borgward personal bankruptcy.
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Upon 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 the establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the organization to continue to trade while while doing so protecting the interests involving creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of her own, never had any objective of allowing the Borgward auto-businesses to be able to survive.
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