Borgward is usually an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in the actual 1960s. The Borgward group created 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 partner Karlheinz L. Knöss, with assistance from China investment, and unveiled the corporation's first new car within over 40 years, the BX7 at this 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business return to 1905 with the place in nearby Varel in the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself associated with "Namag", maker of the Lloyd vehicle. 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 with the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand this scope of his vehicle business, and he took control of it.
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The initial "automobile" Carl Borgward created was the 1924 Blitzkarren (lightning cart), a sort of small three-wheeled van with two hp (1. 5 kW), which was an enormous success already in the market gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the still three wheeler timber presented synthetic leather bodied 5 or perhaps 7 hp Goliath Master. Borgward turned his attention to the other businesses and led the development with the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 in addition to in 1939 the label was shortened to Borgward 2000. The 2000 model was and 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 businesses he had acquired over time to found three independent 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 like a single entity, but in a business operated with a man to whom delegation wouldn't come naturally the spreading of legal entities nonetheless added unhelpful layers of complexity over the 1950s and encouraged a broadening from the range which in the end proved financially unsustainable while using the sales volumes achievable. In 1949 company presented 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 begun in 1954. The Isabella would become Borgward's most popular model and remained in production with the life of the business. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers in the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that has been also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such because air suspension and automated transmission, the company had trouble competing in the market. While larger companies including Opel and VW took benefit of economies of scale along with kept their prices low to find market share, Borgward's cost structure was even above necessary for its sizing, as it basically controlled as four tiny independent companies and not implemented such basic price tag reduction strategies as articulation development and parts sharing between company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced as a water-cooled boxer with top wheel drive, but plagued with problems including water leakage and gearbox glitches. Lloyd lost money on the car though it was more expensive in comparison with its direct competitors.In 1961, the company was compelled into liquidation by lenders. Carl Borgward died throughout July 1963, still insisting the company had been technically solvent. This proved to be true inside sense that after this creditors were paid 100 %, there was still 4. 5 million Marks remaining from the business.
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Reports of difficulties at Borgward surfaced in the article that appeared with Germany's leading news mag, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly important of Carl Borgward's business approach, and included many from the arguments later advanced to spell out or justify the businesses demise. The widest range of cars from any supplier in Germany, produced by three until recently operationally autonomous organizations (Borgward, Goliath and Lloyd) had been supporting a turnover regarding only 650 million Represents, placing the overall sales value through the combined Borgward auto firms only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation regarding new and modified designs featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") gave rise to components which too much did not work, broke down or fell apart, resulting in massive payments for pre-delivery remediation and/or write-up delivery warranty work that found their made use of to the company.The December 1960 Spiegel article had not been the only serious open public criticism targeting Borgward right now: suddenly stridently negative (in case more succinct) comments also turned up in the influential mass-market Bild newspapers and in television accounts. Critical media commentaries furthermore appeared concerning large loans on the Borgward Group provided through the local Landesbank.It is apparent which the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses such as 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 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 towards the end of 1960 was beyond usual, reflecting ambitious growth plans, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered by the North American dealers throughout 1960 (and in the 12, 000 delivered to all of them) 6, 000 might have to become taken back following a slump in Us demand. (Borgward was not the sole European auto maker hit by way of North American slump widely used for imported cars in the course of 1960. In the same season two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached your banker for a further a single million Marks of credit history, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators decided to provide. However, following the flood connected with critical press comment this 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 4 February 1961, thereby averting the bankruptcy from the business.The Bremen Senate furthermore insisted on appointing a nominee as chairman from the company’s supervisory board. The man they decided to go with was Johannes Semler which reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice towards breadth of Semler’s profession. He had studied legislation at university and worked initially to be a lawyer. The scion of a leading Hamburg political family, in 1945 he acquired himself been a founding person in the centre-right CSU bash, and was a member of the Bundestag between 1950 and also 1953. Despite his Hamburg sources, Semler was by this time around based in Munich, with a network of contacts within the Bavarian establishment that most likely included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very 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 conflict that followed the Borgward bankruptcy.
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About 28 July 1961 Semler, as Chairman of this supervisory board joined the directors of 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 at the same time protecting the interests regarding creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of their own, never had any purpose of allowing the Borgward auto-businesses for you to survive.
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