Borgward is an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in your 1960s. The Borgward group developed four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grand son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the businesses first new car inside over 40 years, the BX7 at the 2015 International Motor Display.The origins of Bremen's most significant auto-business resume 1905 with the organization in nearby Varel on the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself regarding "Namag", maker of the Lloyd car. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and by the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand your scope of his car business, and he took control than it.
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The initial "automobile" Carl Borgward intended was the 1924 Blitzkarren (lightning cart), a sort of little three-wheeled van with 2 hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the still three wheeler timber framed synthetic leather bodied 5 or maybe 7 hp Goliath Leader. Borgward turned his attention to the other businesses as well as led the development in the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 and in 1939 the identify was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from organizations he had acquired over time to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business at any given time of austerity and rationing. For many purposes the firms would be run being a single entity, but in a business operated by a man to whom delegation didn't come naturally the growth of legal entities nonetheless added unhelpful layers of complexity throughout the 1950s and encouraged a broadening from the range which in the long run proved financially unsustainable with all the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.One of several 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 hottest model and remained in production to the life of the firm. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (which has been also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such because air suspension and intelligent transmission, the company had trouble competing in the marketplace. While larger companies like Opel and VW took selling point of economies of scale as well as kept their prices low to realize market share, Borgward's cost structure was even more than necessary for its sizing, as it basically controlled as four tiny independent companies and never implemented such basic price tag reduction strategies as joint development and parts sharing relating to the company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced to be a water-cooled boxer with entry wheel drive, but plagued with problems such as water leakage and gearbox errors. Lloyd lost money on the car just about the most was more expensive in comparison with its direct competitors.In 1961, the company was forced into liquidation by lenders. Carl Borgward died within July 1963, still insisting the company had been technically solvent. This proved to be true in the sense that after this creditors were paid fully, there was still some. 5 million Marks left over from the business.
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Reports of difficulties at Borgward surfaced within the article that appeared with Germany's leading news journal, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly critical of Carl Borgward's business approach, and included many from the arguments later advanced to explain or justify the businesses demise. The widest range of cars from any supplier in Germany, produced by three until recently operationally autonomous firms (Borgward, Goliath and Lloyd) ended up being supporting a turnover involving only 650 million Scars, placing the overall sales value from the combined Borgward auto corporations 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 associated with new and modified designs featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") provided rise to components which all too often did not work, broke down or fell apart, resulting in massive expenses for pre-delivery remediation and/or post delivery warranty work that found their way back to the company.The December 1960 Spiegel article wasn't the only serious community criticism targeting Borgward at the moment: suddenly stridently negative (in the event more succinct) comments also resulted in in the influential mass-market Bild paper and in television studies. Critical media commentaries additionally appeared concerning large loans towards the Borgward Group provided with the local Landesbank.It is apparent the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses for instance auto manufacturing use their expensive machines and tools most efficiently whenever they use them constantly with full capacity, but the car market in Europe inside the 1950s/60s was more seasonal than today, with sales diminishing throughout Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars by the end of 1960 was beyond usual, reflecting ambitious growth ideas, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered because of the North American dealers in 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 one European auto maker hit by the North American slump popular for imported cars throughout 1960. In the same season 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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Right at the end of December 1960 Borgward approached the lender for a further one particular million Marks of credit, the loan to be backed by a guarantee from the Bremen regional government which initially the Bremen senators agreed to provide. However, following the flood associated with critical press comment the senators withdrew their promise. They now required Carl Borgward to pledge the business itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in the still hostile media, Borgward agreed to this senate’s terms on 4 February 1961, thereby averting the bankruptcy from the business.The Bremen Senate likewise insisted on appointing its own nominee as chairman with the company’s supervisory board. The man they select was Johannes Semler whom reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice for the breadth of Semler’s vocation. He had studied legislations at university and worked initially like a lawyer. The scion of a number one Hamburg political family, in 1945 he got himself been a founding member of the centre-right CSU bash, and was a person in the Bundestag between 1950 and also 1953. Despite his Hamburg sources, Semler was by this time based in Munich, with a network of contacts in the Bavarian establishment that most likely included fellow CSU politician along with 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 since the representative of the Bremen senators for you to chair the Borgward supervisory aboard would, in retrospect, contribute to the dispute that followed the Borgward a bankruptcy proceeding.
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On 28 July 1961 Semler, as Chairman of the supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling the organization to continue to trade while at the same time protecting the interests associated with creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his very own, never had any purpose of allowing the Borgward auto-businesses to be able to survive.
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