Borgward is usually an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in this 1960s. The Borgward group developed four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the firm's first new car in over 40 years, the BX7 at your 2015 International Motor Present.The origins of Bremen's most significant auto-business go back to 1905 with the place in nearby Varel of the "Hansa Automobilgesellschaft" and the walls 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 from the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the scope of his auto business, and he took control of 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 out there gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 as well as 7 hp Goliath Leading. Borgward turned his awareness of the other businesses and also led the development from the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 as well as in 1939 the brand was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from organizations he had acquired in the past to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the amount 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 would not come naturally the growth of legal entities on the other hand added unhelpful layers of complexity throughout the 1950s and encouraged a broadening in the range which ultimately proved financially unsustainable while using sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.Among the top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most widely used model and remained in production to the life of the business. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a brand 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 many F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such as air suspension and automated transmission, the company had trouble competing available. While larger companies similar to Opel and VW took benefit of economies of scale and also kept their prices low to achieve market share, Borgward's cost structure was even higher than necessary for its sizing, as it basically handled as four tiny independent companies and don't implemented such basic price tag reduction strategies as combined development and parts sharing between your company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced being a water-cooled boxer with entry wheel drive, but plagued with problems like water leakage and gearbox errors. Lloyd lost money on the car just about the most was more expensive compared to its direct competitors.In 1961, the company was compelled into liquidation by creditors. Carl Borgward died in July 1963, still insisting the company ended up technically solvent. This proved to be true from the sense that after the creditors were paid 100 %, there was still 4. 5 million Marks remaining from the business.
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Stories of difficulties at Borgward surfaced within the article that appeared with Germany's leading news mag, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly crucial of Carl Borgward's company approach, and included many with the arguments later advanced to go into detail or justify the company's demise. The widest range connected with cars from any supplier in Germany, produced by three until finally recently operationally autonomous corporations (Borgward, Goliath and Lloyd) ended up being supporting a turnover connected with only 650 million Scars, placing the overall sales value through the combined Borgward auto organizations only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation involving new and modified types featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") gave rise to components which too much did not work, broke down or fell into 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 resulted in in the influential mass-market Bild newspaper and in television stories. Critical media commentaries furthermore appeared concerning large loans towards the Borgward Group provided with the local Landesbank.It is apparent that this business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses like auto manufacturing use their own expensive machines and tools most efficiently should they use them constantly in full capacity, but the car market in Europe in the 1950s/60s was more seasons than today, with sales diminishing in Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was beyond usual, reflecting ambitious growth plans, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered from the North American dealers within 1960 (and in the 12, 000 delivered to these individuals) 6, 000 might have to get taken back following a slump in United states demand. (Borgward was not the sole European auto maker hit by way of a North American slump in demand for imported cars through 1960. In the same season two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in Big apple were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached the bank for a further just one million Marks of credit history, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators opted for provide. However, following the flood associated with critical press comment the actual senators withdrew their assure. They now required Carl Borgward to pledge this company itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported in the still hostile media, Borgward agreed to the particular senate’s terms on four February 1961, thereby averting the bankruptcy from the business.The Bremen Senate additionally insisted on appointing its very own nominee as chairman of the company’s supervisory board. The man they decided was Johannes Semler which reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice on the breadth of Semler’s job. He had studied regulation at university and worked initially as a lawyer. The scion of a leading Hamburg political family, in 1945 he experienced himself been a founding member of the centre-right CSU gathering, and was a member of the Bundestag between 1950 along with 1953. Despite his Hamburg beginnings, Semler was by now based in Munich, with a network of contacts in the Bavarian establishment that likely included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position from the Bizone. The appointment of Johannes Semler because representative of the Bremen senators to chair the Borgward supervisory board would, in retrospect, contribute to the controversy that followed the Borgward a bankruptcy proceeding.
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About 28 July 1961 Semler, as Chairman of the supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while at the same time protecting the interests of creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of her own, never had any goal of allowing the Borgward auto-businesses for you to survive.
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