Borgward is usually an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in your 1960s. The Borgward group made four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grandson, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the company's first new car inside over 40 years, the BX7 at the 2015 International Motor Indicate.The origins of Bremen's most significant auto-business return to 1905 with the place in nearby Varel on the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself regarding "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to make 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 a bankruptcy proceeding. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand your scope of his vehicle business, and he took control from it.
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The 1st "automobile" Carl Borgward created was the 1924 Blitzkarren (lightning cart), a sort of little three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success on 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 home of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the nevertheless three wheeler timber framed synthetic leather bodied 5 or perhaps 7 hp Goliath Pioneer. Borgward turned his attention to the other businesses and led the development in the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 along with in 1939 the name 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 a lot of the brand names from businesses he had acquired through the years to found three different 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 companies would be run as a single entity, but in a business operated by way of a man to whom delegation didn't come naturally the spreading of legal entities nonetheless added unhelpful layers of complexity throughout the 1950s and encouraged a broadening on the range which finally proved financially unsustainable with all the sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.On the list of top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started out in 1954. The Isabella would become Borgward's most popular model and remained in production to the life of the organization. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers from the late 1950s, with the 16-valve engine from these learning to be a successful Formula Two power unit (that was also used by a few 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 similar to Opel and VW took benefit of economies of scale and also kept their prices low to get market share, Borgward's cost structure was even higher than necessary for its dimensions, as it basically operated as four tiny independent companies rather than implemented such basic price reduction strategies as mutual development and parts sharing between the company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced as a water-cooled boxer with entrance wheel drive, but plagued with problems for example 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 compelled into liquidation by credit card companies. Carl Borgward died throughout July 1963, still insisting the company were being technically solvent. This proved to be true inside the sense that after the particular creditors were paid entirely, there was still some. 5 million Marks left from the business.
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Reports of difficulties at Borgward surfaced in a article that appeared inside Germany's leading news magazine, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly essential of Carl Borgward's company approach, and included many of 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 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 from the combined Borgward auto corporations only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation associated with new and modified versions featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") afforded rise to components which many times did not work, broke down or fell apart, resulting in massive charges for pre-delivery remediation and/or submit delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article wasn't the only serious general public criticism targeting Borgward currently: suddenly stridently negative (in case more succinct) comments also turned up in the influential mass-market Bild magazine and in television stories. Critical media commentaries additionally appeared concerning large loans towards the Borgward Group provided because of the local Landesbank.It is apparent the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses for example auto manufacturing use their expensive machines and tools most efficiently whenever they use them constantly on full capacity, but the car market in Europe inside 1950s/60s was more seasons than today, with sales diminishing throughout Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars towards the end of 1960 was above usual, reflecting ambitious growth ideas, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered through the North American dealers within 1960 (and in the 12, 000 delivered to them) 6, 000 might have to be taken back following a slump in United states demand. (Borgward was not the one European auto maker hit by way of a North American slump popular for imported cars during 1960. In the same calendar year two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached your banker for a further just one million Marks of credit, the loan to be backed by a guarantee from the Bremen local government which initially the Bremen senators decided to provide. However, following the flood regarding critical press comment your senators withdrew their promise. They now required Carl Borgward to pledge the corporation 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 some February 1961, thereby averting the bankruptcy in the business.The Bremen Senate furthermore insisted on appointing its own nominee as chairman in the company’s supervisory board. The man they selected was Johannes Semler to whom reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice to the breadth of Semler’s profession. He had studied rules at university and worked initially being a lawyer. The scion of a leading Hamburg political family, in 1945 he received himself been a founding member of the centre-right CSU party, and was a member of the Bundestag between 1950 as well as 1953. Despite his Hamburg sources, Semler was by this time around based in Munich, with a network of contacts inside the Bavarian establishment that likely included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position inside 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 controversy that followed the Borgward individual bankruptcy.
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About 28 July 1961 Semler, as Chairman of the supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings to the establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling the business to continue to trade while concurrently protecting the interests of creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of her own, never had any intent of allowing the Borgward auto-businesses to be able to survive.
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