Borgward can be an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in the particular 1960s. The Borgward group made four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grand son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the company's first new car inside over 40 years, the BX7 at this 2015 International Motor Display.The origins of Bremen's most significant auto-business resume 1905 with the organization in nearby Varel on the "Hansa Automobilgesellschaft" and the walls in Bremen itself associated with "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economic situation then confronting Germany, the business failed to prosper and with the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand the particular scope of his car business, and he took control than it.
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The primary "automobile" Carl Borgward made 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 in the market gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the still three wheeler timber framed synthetic leather bodied 5 or even 7 hp Goliath Leading. Borgward turned his awareness of the other businesses and led the development on the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 in addition to in 1939 the brand was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from firms he had acquired over time to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business during a period of austerity and rationing. For many purposes the companies would be run to be a single entity, but in a business operated by way of man to whom delegation wouldn't come naturally the proliferation of legal entities nonetheless added unhelpful layers of complexity with the 1950s and encouraged a broadening in the range which in the end proved financially unsustainable while using sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.One of several top engineers at Borgward coming from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella commenced in 1954. The Isabella would become Borgward's hottest model and remained in production for your life of the organization. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers in the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that is also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such as air suspension and intelligent transmission, the company had trouble competing in the market. While larger companies like Opel and VW took benefit of economies of scale and kept their prices low to achieve market share, Borgward's cost structure was even more than necessary for its size, as it basically handled as four tiny independent companies and never implemented such basic expense reduction strategies as combined development and parts sharing relating to the company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced as a water-cooled boxer with top wheel drive, but plagued with problems for instance water leakage and gearbox glitches. Lloyd lost money on the car just about the most was more expensive when compared with its direct competitors.In 1961, the company was compelled into liquidation by loan companies. Carl Borgward died in July 1963, still insisting the company ended up technically solvent. This proved to be true inside the sense that after your creditors were paid 100 %, there was still 5. 5 million Marks remaining from the business.
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Accounts of difficulties at Borgward surfaced within the article that appeared in 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 top cover. It was strongly critical of Carl Borgward's enterprise approach, and included many with the arguments later advanced to describe or justify the businesses demise. The widest range regarding cars from any producer in Germany, produced by three right up until recently operationally autonomous organizations (Borgward, Goliath and Lloyd) ended up being supporting a turnover involving only 650 million Signifies, placing the overall sales value from your combined Borgward auto businesses only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation connected with new and modified types featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") gave rise to components which all too often did not work, broke down or fell apart, resulting in massive expenses for pre-delivery remediation and/or submit delivery warranty work that found their in the past to the company.The December 1960 Spiegel article hasn't been the only serious general public criticism targeting Borgward at this time: suddenly stridently negative (in the event more succinct) comments also turned up in the influential mass-market Bild newspaper and in television accounts. Critical media commentaries likewise 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 including auto manufacturing use their particular expensive machines and tools most efficiently if they use them constantly with full capacity, but the car market in Europe from the 1950s/60s was more seasonal than today, with sales diminishing in Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars right at the end of 1960 was higher than usual, reflecting ambitious growth options, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered because of the North American dealers in 1960 (and on the 12, 000 delivered to them) 6, 000 might have to get taken back following a slump in North american demand. (Borgward was not the only European auto maker hit by a North American slump popular for imported cars in the course of 1960. In the same 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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At the conclusion of December 1960 Borgward approached your banker for a further just one million Marks of credit score, the loan to be backed by way of a guarantee from the Bremen local government which initially the Bremen senators decided provide. However, following the flood regarding critical press comment the actual senators withdrew their assure. They now required Carl Borgward to pledge the business itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported inside a still hostile media, Borgward agreed to the actual senate’s terms on four February 1961, thereby averting the bankruptcy from the business.The Bremen Senate additionally insisted on appointing a unique nominee as chairman from the company’s supervisory board. The man they decided was Johannes Semler who reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice for the breadth of Semler’s occupation. He had studied legislations at university and worked initially as being a lawyer. The scion of a number one Hamburg political family, in 1945 he got himself been a founding member of the centre-right CSU celebration, and was a member of the Bundestag between 1950 and also 1953. Despite his Hamburg origins, Semler was by this time based in Munich, with a network of contacts from the Bavarian establishment that most likely included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position within the Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators to chair the Borgward supervisory board would, in retrospect, contribute to the hot debate that followed the Borgward a bankruptcy proceeding.
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On 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while concurrently protecting the interests of creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of her own, never had any objective of allowing the Borgward auto-businesses to survive.
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