Borgward is usually an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the actual 1960s. The Borgward group created four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grandson, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the corporation's first new car in over 40 years, the BX7 at your 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business return to 1905 with the institution in nearby Varel from the "Hansa Automobilgesellschaft" and the walls in Bremen itself connected with "Namag", maker of the Lloyd car. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and through the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the particular scope of his car business, and he took control of the usb ports.
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The very first "automobile" Carl Borgward developed was the 1924 Blitzkarren (lightning cart), a sort of very small three-wheeled van with two hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the however three wheeler timber framed synthetic leather bodied 5 or even 7 hp Goliath Pioneer. Borgward turned his attention to the other businesses as well as led the development of the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 in addition to in 1939 the name was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from companies he had acquired over time to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business at the same time of austerity and rationing. For many purposes nokia's would be run being a single entity, but in a business operated by way of a man to whom delegation wouldn't come naturally the spreading of legal entities however added unhelpful layers of complexity over the 1950s and encouraged a broadening in the range which ultimately proved financially unsustainable with all the sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.One of several top engineers at Borgward coming from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started 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 was introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (which was also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such while air suspension and intelligent transmission, the company had trouble competing available on the market. While larger companies similar to Opel and VW took benefit of economies of scale and kept their prices low to realize market share, Borgward's cost structure was even more than necessary for its dimensions, as it basically operated as four tiny independent companies and don't implemented such basic price reduction strategies as combined development and parts sharing between the company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced to be a water-cooled boxer with the front wheel drive, but plagued with problems like water leakage and gearbox mistakes. Lloyd lost money on the car community . was more expensive compared to 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 in the sense that after your creditors were paid 100 %, there was still several. 5 million Marks remaining from the business.
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Reports of difficulties at Borgward surfaced within an article that appeared throughout Germany's leading news journal, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly critical of Carl Borgward's organization approach, and included many on the arguments later advanced to describe or justify the businesses demise. The widest range connected with cars from any maker in Germany, produced by three right up until recently operationally autonomous companies (Borgward, Goliath and Lloyd) has been supporting a turnover associated with only 650 million Scars, placing the overall sales value in the combined Borgward auto companies only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation involving new and modified designs featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") provided rise to components which excessively did not work, broke down or dropped apart, resulting in massive expenses for pre-delivery remediation and/or publish delivery warranty work that found their long ago to the company.The December 1960 Spiegel article had not been the only serious general public criticism targeting Borgward right now: suddenly stridently negative (in case more succinct) comments also turned up in the influential mass-market Bild newspaper and in television stories. Critical media commentaries additionally appeared concerning large loans to the Borgward Group provided by the local Landesbank.It is apparent that the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses including auto manufacturing use their particular expensive machines and tools most efficiently as long as they use them constantly on full capacity, but the car market in Europe within the 1950s/60s was more seasonal than today, with sales diminishing within Winter, then peaking in early summer months: Borgward’s inventory of unsold cars right at the end of 1960 was above usual, reflecting ambitious growth programs, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered by the North American dealers inside 1960 (and in the 12, 000 delivered to these individuals) 6, 000 might have to be taken back following a slump in North american demand. (Borgward was not the one European auto maker hit by a North American slump in demand for imported cars during 1960. In the same yr two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in Big apple were overcrowded with unsold Dauphines.
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At the conclusion of December 1960 Borgward approached the lending company for a further 1 million Marks of credit ratings, the loan to be backed by way of a guarantee from the Bremen regional government which initially the Bremen senators decided provide. However, following the flood involving critical press comment the actual senators withdrew their assurance. They now required Carl Borgward to pledge the business itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported in a very still hostile media, Borgward agreed to this senate’s terms on 5 February 1961, thereby averting the bankruptcy in the business.The Bremen Senate furthermore insisted on appointing a unique nominee as chairman in the company’s supervisory board. The man they decided to go with was Johannes Semler whom reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice to the breadth of Semler’s occupation. He had studied rules at university and worked initially like a lawyer. The scion of a number one Hamburg political family, in 1945 he had himself been a founding member of the centre-right CSU party, and was a member of the Bundestag between 1950 along with 1953. Despite his Hamburg sources, Semler was by this time based in Munich, with a network of contacts in the Bavarian establishment that probably included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position inside the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators for you to chair the Borgward supervisory table would, in retrospect, contribute to the hot debate that followed the Borgward bankruptcy.
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In 28 July 1961 Semler, as Chairman of your supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided to get a court sanctioned scheme of arrangement enabling the business to continue to trade while at the same time protecting the interests of creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of his very own, never had any intention of allowing the Borgward auto-businesses for you to survive.
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