Borgward is an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in this 1960s. The Borgward group created four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's son, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the business's first new car in over 40 years, the BX7 at this 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 muse in Bremen itself of "Namag", maker of the Lloyd car or truck. 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 by the late 1920s faced chapter 7. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand this scope of his car business, and he took control than it.
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The primary "automobile" Carl Borgward designed was the 1924 Blitzkarren (turbo cart), a sort of small three-wheeled van with only two hp (1. 5 kW), which was an enormous success on the market gap it filled. Traders with a small budget purchased for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the however three wheeler timber framed synthetic leather bodied 5 or maybe 7 hp Goliath Pioneer. Borgward turned his care about the other businesses as well as led the development with the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and in 1939 the identify was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from businesses he had acquired over 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 nokia's would be run like a single entity, but in a business operated by way of man to whom delegation did not come naturally the proliferation of legal entities nevertheless added unhelpful layers of complexity from the 1950s and encouraged a broadening with the range which ultimately proved financially unsustainable with the sales volumes achievable. In 1949 company introduced 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 began in 1954. The Isabella would become Borgward's most in-demand model and remained in production to the life of the business. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (that has been also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such since air suspension and programmed transmission, the company had trouble competing in the market. While larger companies like Opel and VW took benefit of economies of scale and kept their prices low to get market share, Borgward's cost structure was even more than necessary for its sizing, as it basically controlled as four tiny independent companies and do not implemented such basic price reduction strategies as mutual development and parts sharing involving the company's makes. Borgward suffered quality problems at the same time. 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 glitches. Lloyd lost money on the car even though it was more expensive when compared with its direct competitors.In 1961, the company was required into liquidation by credit card companies. Carl Borgward died throughout July 1963, still insisting the company had been technically solvent. This proved to be true inside sense that after the actual creditors were paid fully, there was still 4. 5 million Marks remaining from the business.
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Stories of difficulties at Borgward surfaced in a article that appeared within Germany's leading news journal, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly important of Carl Borgward's enterprise approach, and included many with the arguments later advanced to explain or justify the corporation's demise. The widest range involving cars from any supplier in Germany, produced by three until finally recently operationally autonomous companies (Borgward, Goliath and Lloyd) has been supporting a turnover associated with only 650 million Grades, placing the overall sales value on the combined Borgward auto businesses only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation connected with new and modified designs featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") offered rise to components which too often did not work, broke down or fell into apart, resulting in massive bills for pre-delivery remediation and/or submit delivery warranty work that found their in the past to the company.The December 1960 Spiegel article has not been the only serious open criticism targeting Borgward at this time: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild newspaper and in television accounts. Critical media commentaries in addition appeared concerning large loans towards Borgward Group provided through the local Landesbank.It is apparent the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses including auto manufacturing use their own 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 within Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars right at the end of 1960 was more than usual, reflecting ambitious growth plans, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered by the North American dealers in 1960 (and from the 12, 000 delivered to these) 6, 000 might have to get taken back following a slump in North american demand. (Borgward was not the one European auto maker hit by the North American slump in demand for imported cars during 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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Towards the end of December 1960 Borgward approached the lending company for a further 1 million Marks of credit rating, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators consented to provide. However, following the flood involving critical press comment your 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 a still hostile media, Borgward agreed to this senate’s terms on four February 1961, thereby averting the bankruptcy of the business.The Bremen Senate likewise insisted on appointing its own nominee as chairman with the company’s supervisory board. The man they decided was Johannes Semler whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice to the breadth of Semler’s vocation. He had studied law at university and worked initially being a lawyer. The scion of a leading Hamburg political family, in 1945 he got himself been a founding person in the centre-right CSU bash, and was a person in the Bundestag between 1950 and 1953. Despite his Hamburg beginning, Semler was by this time around based in Munich, with a network of contacts inside the Bavarian establishment that probably included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position from the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators to chair the Borgward supervisory panel would, in retrospect, contribute to the controversy that followed the Borgward personal bankruptcy.
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In 28 July 1961 Semler, as Chairman of your supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling the organization to continue to trade while simultaneously protecting the interests regarding creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his or her own, never had any purpose of allowing the Borgward auto-businesses to help survive.
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