Borgward is an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the particular 1960s. The Borgward group produced four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's son, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Chinese investment, and unveiled the business's first new car with over 40 years, the BX7 at your 2015 International Motor Display.The origins of Bremen's most significant auto-business get back on 1905 with the business in nearby Varel with the "Hansa Automobilgesellschaft" and the walls in Bremen itself regarding "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and by the late 1920s faced chapter 7. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand the actual scope of his car business, and he took control from it.
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The very first "automobile" Carl Borgward created was the 1924 Blitzkarren (super 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 bought it for delivery. The Reichspost ordered quite a few 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 can't evolved into the nevertheless three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Master. Borgward turned his focus on the other businesses in addition to led the development with the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 along with 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 lot of the brand names from companies he had acquired in recent times to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business at any given time of austerity and rationing. For many purposes the lenders would be run being a single entity, but in a business operated by the 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 on the range which finally proved financially unsustainable while using sales volumes achievable. In 1949 company offered 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 started out in 1954. The Isabella would become Borgward's most favored model and remained in production for that life of the corporation. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that was also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such because air suspension and programmed transmission, the company had trouble competing available. While larger companies including Opel and VW took advantage of economies of scale along with kept their prices low to achieve market share, Borgward's cost structure was even beyond necessary for its sizing, as it basically handled as four tiny independent companies and not implemented such basic cost reduction strategies as articulation development and parts sharing involving the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced like a water-cooled boxer with the front wheel drive, but plagued with problems including water leakage and gearbox mistakes. Lloyd lost money on the car just about the most was more expensive in comparison with its direct competitors.In 1961, the company was compelled into liquidation by creditors. Carl Borgward died inside July 1963, still insisting the company was technically solvent. This proved to be true from the sense that after this creditors were paid 100 %, there was still four. 5 million Marks left over from the business.
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Accounts of difficulties at Borgward surfaced within the article that appeared within Germany's leading news journal, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly critical of Carl Borgward's small business approach, and included many on the arguments later advanced to describe or justify the firm's demise. The widest range connected with cars from any supplier in Germany, produced by three right up until recently operationally autonomous corporations (Borgward, Goliath and Lloyd) seemed to be supporting a turnover associated with only 650 million Scars, 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 when using increasingly manic proliferation connected with new and modified products featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") gave rise to components which many times 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 long ago to the company.The December 1960 Spiegel article has not been the only serious open public criticism targeting Borgward at this time: suddenly stridently negative (in case more succinct) comments also resulted in in the influential mass-market Bild newspaper and in television reports. Critical media commentaries likewise 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 his or her expensive machines and tools most efficiently should they use them constantly in full capacity, but the car market in Europe inside the 1950s/60s was more periodic than today, with sales diminishing in Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars at the end of 1960 was above 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 through the North American dealers with 1960 (and from the 12, 000 delivered to these people) 6, 000 might have to become taken back following a slump in Us demand. (Borgward was not the sole European auto maker hit by way of a North American slump sought after for imported cars during 1960. In the same year two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached your banker 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 decided provide. However, following the flood of critical press comment the senators withdrew their guarantee. They now required Carl Borgward to pledge the company itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in a still hostile media, Borgward agreed to your senate’s terms on 5 February 1961, thereby averting the bankruptcy of the business.The Bremen Senate additionally insisted on appointing its own nominee as chairman from the company’s supervisory board. The man they select was Johannes Semler with whom reports generally describe as being 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 person in the centre-right CSU gathering, and was a member of the Bundestag between 1950 as well as 1953. Despite his Hamburg sources, Semler was by these times based in Munich, with a network of contacts within the Bavarian establishment that possibly included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position within the Bizone. The appointment of Johannes Semler because representative of the Bremen senators for you to chair the Borgward supervisory panel 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 this supervisory board joined the directors of 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 company to continue to trade while while doing so protecting the interests of creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” include 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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