Borgward is surely an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in this 1960s. The Borgward group made four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's grandson, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the businesses first new car inside over 40 years, the BX7 at this 2015 International Motor Indicate.The origins of Bremen's most significant auto-business resume 1905 with the place in nearby Varel from the "Hansa Automobilgesellschaft" and the muse in Bremen itself involving "Namag", maker of the Lloyd car. These two businesses merged in 1914 to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and from the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand your scope of his vehicle business, and he took control from it.
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The 1st "automobile" Carl Borgward intended was the 1924 Blitzkarren (super cart), a sort of very small three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the nevertheless three wheeler timber framed synthetic leather bodied 5 or perhaps 7 hp Goliath Leader. Borgward turned his care about the other businesses along with led the development of the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and also in 1939 the identify 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 lot of the brand names from companies he had acquired in the past to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business at the same time of austerity and rationing. For many purposes the firms would be run to be a single entity, but in a business operated by a man to whom delegation didn't come naturally the spreading of legal entities nevertheless added unhelpful layers of complexity from the 1950s and encouraged a broadening from the range which in the long run proved financially unsustainable while using the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.On the list of 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 with the life of the corporation. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that is also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such while air suspension and automatic transmission, the company had trouble competing in the marketplace. While larger companies including Opel and VW took selling point of economies of scale in addition to kept their prices low to get market share, Borgward's cost structure was even greater than necessary for its dimension, as it basically managed as four tiny independent companies and don't implemented such basic expense reduction strategies as articulation 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 being a water-cooled boxer with top wheel drive, but plagued with problems including water leakage and gearbox snags. Lloyd lost money on the car although it was more expensive than its direct competitors.In 1961, the company was required into liquidation by loan companies. Carl Borgward died within July 1963, still insisting the company were being technically solvent. This proved to be true from the sense that after the creditors were paid in full, there was still some. 5 million Marks remaining from the business.
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Reports of difficulties at Borgward surfaced within the article that appeared throughout Germany's leading news newspaper, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly important of Carl Borgward's small business approach, and included many with the arguments later advanced to describe or justify the business's demise. The widest range involving cars from any maker in Germany, produced by three right up until recently operationally autonomous organizations (Borgward, Goliath and Lloyd) was supporting a turnover regarding only 650 million Represents, 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 while on an increasingly manic proliferation involving new and modified versions featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") afforded rise to components which too often did not work, broke down or droped apart, resulting in massive payments for pre-delivery remediation and/or submit delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article was not the only serious open public criticism targeting Borgward currently: suddenly stridently negative (in the event more succinct) comments also turned up in the influential mass-market Bild magazine and in television studies. Critical media commentaries likewise appeared concerning large loans to the Borgward Group provided through the local Landesbank.It is apparent how the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses such as auto manufacturing use their own expensive machines and tools most efficiently as long as they use them constantly in full capacity, but the car market in Europe within the 1950s/60s was more temporary than today, with sales diminishing within Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was more than usual, reflecting ambitious growth plans, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered by the North American dealers within 1960 (and from the 12, 000 delivered to these individuals) 6, 000 might have being taken back following a slump in United states demand. (Borgward was not the only real European auto maker hit by way of North American slump popular for imported cars while in 1960. In the same season 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 financial institution for a further 1 million Marks of credit history, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators agreed to provide. However, following the flood of critical press comment the senators withdrew their assurance. They now required Carl Borgward to pledge this company 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 particular senate’s terms on several February 1961, thereby averting the bankruptcy in the business.The Bremen Senate furthermore insisted on appointing a unique nominee as chairman on the company’s supervisory board. The man they decided to go with was Johannes Semler to whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice for the breadth of Semler’s occupation. He had studied regulation at university and worked initially being a lawyer. The scion of a top Hamburg political family, in 1945 he acquired himself been a founding member of the centre-right CSU gathering, and was a member of the Bundestag between 1950 and 1953. Despite his Hamburg beginning, Semler was by now based in Munich, with a network of contacts inside Bavarian establishment that most likely included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position in the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators in order to chair the Borgward supervisory panel would, in retrospect, contribute to the hot debate that followed the Borgward individual bankruptcy.
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Upon 28 July 1961 Semler, as Chairman of the supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling the organization to continue to trade while simultaneously protecting the interests involving creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his or her own, never had any intent of allowing the Borgward auto-businesses for you to survive.
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