Borgward is surely an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in the 1960s. The Borgward group developed four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's grandson, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the businesses first new car within over 40 years, the BX7 at the 2015 International Motor Present.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 connected with "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and with the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand your scope of his automobile business, and he took control from it.
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The first "automobile" Carl Borgward designed was the 1924 Blitzkarren (super cart), a sort of small three-wheeled van with 2 hp (1. 5 kW), which was an enormous success out there 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 director 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 perhaps 7 hp Goliath Pioneer. Borgward turned his attention to the other businesses and also led the development from the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and in 1939 the identify was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from organizations he had acquired over time to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business at a time of austerity and rationing. For many purposes the lenders would be run as being a single entity, but in a business operated by way of a man to whom delegation didn't come naturally the growth of legal entities even so added unhelpful layers of complexity from the 1950s and encouraged a broadening of the range which eventually proved financially unsustainable while using the sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.One of several top engineers at Borgward via 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 the life of the business. In 1960 the Borgward P100 ended up being 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 being a successful Formula Two power unit (which has been also used by several 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 like Opel and VW took benefit from economies of scale in addition to kept their prices low to find market share, Borgward's cost structure was even more than necessary for its size, as it basically run as four tiny independent companies and do not implemented such basic price tag reduction strategies as combined development and parts sharing relating to the 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 snags. Lloyd lost money on the car although it was more expensive compared to its direct competitors.In 1961, the company was pushed into liquidation by collectors. Carl Borgward died throughout July 1963, still insisting the company were being technically solvent. This proved to be true from the sense that after this creditors were paid completely, there was still several. 5 million Marks remaining from the business.
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Reports of difficulties at Borgward surfaced within an article that appeared within Germany's leading news journal, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly important of Carl Borgward's organization approach, and included many from the arguments later advanced to explain or justify the businesses demise. The widest range regarding cars from any supplier in Germany, produced by three right up until recently operationally autonomous firms (Borgward, Goliath and Lloyd) has been supporting a turnover of only 650 million Marks, 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 when using increasingly manic proliferation of new and modified designs featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") offered rise to components which many times did not work, broke down or dropped 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 has not been the only serious open criticism targeting Borgward at the moment: suddenly stridently negative (in case more succinct) comments also resulted in in the influential mass-market Bild paper and in television reports. Critical media commentaries also appeared concerning large loans on the Borgward Group provided because of the local Landesbank.It is apparent that the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses including auto manufacturing use their own expensive machines and tools most efficiently if they use them constantly with full capacity, but the car market in Europe inside the 1950s/60s was more periodic than today, with sales diminishing in Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was above usual, reflecting ambitious growth ideas, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered by the North American dealers throughout 1960 (and of the 12, 000 delivered to these people) 6, 000 might have to get taken back following a slump in American demand. (Borgward was not the sole European auto maker hit with a North American slump successful for imported cars while in 1960. In the same calendar year two ships carrying Renault Dauphines were turned the government financial aid 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 the bank for a further just one million Marks of credit ratings, the loan to be backed by way of a guarantee from the Bremen regional government which initially the Bremen senators consented to provide. However, following the flood connected with critical press comment the 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 inside a still hostile media, Borgward agreed to the particular senate’s terms on several February 1961, thereby averting the bankruptcy with the business.The Bremen Senate likewise insisted on appointing its nominee as chairman of the company’s supervisory board. The man they chose was Johannes Semler to whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice towards the breadth of Semler’s career. He had studied legislation at university and worked initially like a lawyer. The scion of a leading Hamburg political family, in 1945 he had himself been a founding person in the centre-right CSU gathering, and was a person in the Bundestag between 1950 and 1953. Despite his Hamburg roots, Semler was by now based in Munich, with a network of contacts in the Bavarian establishment that most likely included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position inside Bizone. The appointment of Johannes Semler because the representative of the Bremen senators for you to chair the Borgward supervisory table would, in retrospect, contribute to the conflict that followed the Borgward a bankruptcy proceeding.
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In 28 July 1961 Semler, as Chairman of your supervisory board joined the directors in 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 while doing so protecting the interests connected with creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of her own, never had any intent of allowing the Borgward auto-businesses to survive.
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