Borgward is an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in your 1960s. The Borgward group made four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Oriental 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 go back to 1905 with the establishment in nearby Varel in the "Hansa Automobilgesellschaft" and the foundation in Bremen itself of "Namag", maker of the Lloyd car. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and from 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 the actual scope of his automobile business, and he took control from it.
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The first "automobile" Carl Borgward created was the 1924 Blitzkarren (lightning cart), a sort of little three-wheeled van with only two hp (1. 5 kW), which was an enormous success on the market gap it filled. Traders with a small budget purchased for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the still three wheeler timber framed synthetic leather bodied 5 as well as 7 hp Goliath Leading. Borgward turned his focus on the other businesses and also led the development of the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and also in 1939 the name was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from corporations he had acquired over the years to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business at any given time of austerity and rationing. For many purposes the lenders would be run as a single entity, but in a business operated by way of a man to whom delegation would not come naturally the proliferation of legal entities nevertheless added unhelpful layers of complexity over the 1950s and encouraged a broadening with the range which finally proved financially unsustainable while using the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.One of many top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella commenced in 1954. The Isabella would become Borgward's most widely used model and remained in production to the life of the organization. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers from the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that has been also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such seeing that air suspension and intelligent transmission, the company had trouble competing in the market. While larger companies just like Opel and VW took selling point of economies of scale in addition to kept their prices low to gain market share, Borgward's cost structure was even more than necessary for its sizing, as it basically managed as four tiny independent companies and do not implemented such basic price reduction strategies as combined development and parts sharing involving the company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced to be 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 though it was more expensive compared to its direct competitors.In 1961, the company was compelled into liquidation by collectors. Carl Borgward died with July 1963, still insisting the company have been technically solvent. This proved to be true inside the sense that after the creditors were paid entirely, there was still 5. 5 million Marks left over from the business.
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Accounts of difficulties at Borgward surfaced within an article that appeared within Germany's leading news mag, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly essential of Carl Borgward's small business approach, and included many on the arguments later advanced to spellout or justify the firm's demise. The widest range connected with cars from any maker in Germany, produced by three until finally recently operationally autonomous companies (Borgward, Goliath and Lloyd) seemed to be supporting a turnover regarding only 650 million Represents, placing the overall sales value through the combined Borgward auto organizations only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation associated with new and modified products featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") gave rise to components which excessively did not work, broke down or fell apart, resulting in massive costs for pre-delivery remediation and/or post delivery warranty work that found their long ago to the company.The December 1960 Spiegel article was not the only serious open criticism targeting Borgward at the moment: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild magazine and in television accounts. Critical media commentaries furthermore appeared concerning large loans towards Borgward Group provided from the local Landesbank.It is apparent the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses like auto manufacturing use their particular expensive machines and tools most efficiently as long as they use them constantly on full capacity, but the car market in Europe inside 1950s/60s was more temporary than today, with sales diminishing within Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars by the end of 1960 was beyond usual, reflecting ambitious growth plans, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered through the North American dealers in 1960 (and of the 12, 000 delivered to these) 6, 000 might have being taken back following a slump in North american demand. (Borgward was not the only European auto maker hit by way of North American slump popular 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 Nyc were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the financial institution for a further a single million Marks of credit ratings, the loan to be backed by way of a guarantee from the Bremen local government which initially the Bremen senators decided to provide. However, following the flood involving critical press comment the senators withdrew their promise. They now required Carl Borgward to pledge the business itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported within a still hostile media, Borgward agreed to the actual senate’s terms on several February 1961, thereby averting the bankruptcy of the business.The Bremen Senate additionally insisted on appointing a unique nominee as chairman of the company’s supervisory board. The man they chose was Johannes Semler 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 legislations at university and worked initially being a lawyer. The scion of a respected Hamburg political family, in 1945 he acquired himself been a founding member of the centre-right CSU party, and was a person in the Bundestag between 1950 as well as 1953. Despite his Hamburg beginning, Semler was by now based in Munich, with a network of contacts within the Bavarian establishment that probably included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position inside the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators in order to chair the Borgward supervisory mother board would, in retrospect, contribute to the conflict that followed the Borgward individual bankruptcy.
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About 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors with 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 to continue to trade while concurrently protecting the interests associated with creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of his very own, never had any intention of allowing the Borgward auto-businesses to help survive.
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