Borgward is an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the actual 1960s. The Borgward group developed four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from China investment, and unveiled the company's first new car within over 40 years, the BX7 at your 2015 International Motor Display.The origins of Bremen's most significant auto-business go back to 1905 with the organization in nearby Varel of the "Hansa Automobilgesellschaft" and the foundation in Bremen itself associated with "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and with the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand the scope of his vehicle business, and he took control of computer.
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The 1st "automobile" Carl Borgward made was the 1924 Blitzkarren (turbo cart), a sort of little three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget purchased for delivery. The Reichspost ordered some of them for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the however three wheeler timber framed synthetic leather bodied 5 or perhaps 7 hp Goliath Leading. Borgward turned his care about the other businesses along with led the development with the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 in addition to in 1939 the name was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from firms he had acquired through the years to found three separate 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 lenders would be run like a single entity, but in a business operated by a man to whom delegation wouldn't come naturally the spreading of legal entities nonetheless added unhelpful layers of complexity from the 1950s and encouraged a broadening of the range which finally proved financially unsustainable with the sales volumes achievable. In 1949 company shown 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 commenced in 1954. The Isabella would become Borgward's most in-demand model and remained in production for your life of the organization. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (that has been also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such since air suspension and automated transmission, the company had trouble competing in the market. While larger companies such as Opel and VW took benefit from economies of scale and kept their prices low to get market share, Borgward's cost structure was even higher than necessary for its dimension, as it basically operated as four tiny independent companies and not implemented such basic price tag reduction strategies as joint development and parts sharing involving the company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced being a water-cooled boxer with entry wheel drive, but plagued with problems such as 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 required into liquidation by creditors. Carl Borgward died throughout July 1963, still insisting the company had been technically solvent. This proved to be true inside the sense that after the creditors were paid in full, there was still some. 5 million Marks left over from the business.
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Accounts of difficulties at Borgward surfaced in a article that appeared within Germany's leading news publication, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly important of Carl Borgward's organization approach, and included many with the arguments later advanced to explain or justify the businesses demise. The widest range associated with cars from any manufacturer in Germany, produced by three until finally recently operationally autonomous businesses (Borgward, Goliath and Lloyd) was supporting a turnover regarding only 650 million Marks, placing the overall sales value from your combined Borgward auto firms 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 products 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 publish delivery warranty work that found their long ago to the company.The December 1960 Spiegel article had not been the only serious public criticism targeting Borgward right now: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild magazine and in television accounts. Critical media commentaries in addition appeared concerning large loans on the Borgward Group provided from the local Landesbank.It is apparent which the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses for instance auto manufacturing use the expensive machines and tools most efficiently if they use them constantly from full capacity, but the car market in Europe inside the 1950s/60s was more temporary than today, with sales diminishing with Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars 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 with the 15, 000 Borgward cars ordered through the North American dealers within 1960 (and in the 12, 000 delivered to these people) 6, 000 might have to be taken back following a slump in Us demand. (Borgward was not the only European auto maker hit with a North American slump widely used for imported cars throughout 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 end of December 1960 Borgward approached the bank for a further one million Marks of credit history, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators decided to provide. However, following the flood involving critical press comment this senators withdrew their guarantee. 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 inside a still hostile media, Borgward agreed to the particular senate’s terms on several February 1961, thereby averting the bankruptcy with the business.The Bremen Senate also insisted on appointing a unique nominee as chairman from the company’s supervisory board. The man they selected was Johannes Semler which reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice towards breadth of Semler’s vocation. He had studied legislation at university and worked initially like a lawyer. The scion of a number one Hamburg political family, in 1945 he received himself been a founding person in the centre-right CSU party, and was a person in the Bundestag between 1950 as well as 1953. Despite his Hamburg beginning, Semler was by this time based in Munich, with a network of contacts inside Bavarian establishment that probably included fellow CSU politician and also 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 as the representative of the Bremen senators to chair the Borgward supervisory aboard would, in retrospect, contribute to the dispute that followed the Borgward bankruptcy.
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In 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors from the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the organization to continue to trade while concurrently protecting the interests regarding creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of his or her own, never had any intention of allowing the Borgward auto-businesses to survive.
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