Borgward can be an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in the 1960s. The Borgward group produced four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's grand son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from China investment, and unveiled the corporation's first new car inside over 40 years, the BX7 at the particular 2015 International Motor Present.The origins of Bremen's most significant auto-business get back to 1905 with the organization in nearby Varel with the "Hansa Automobilgesellschaft" and the walls in Bremen itself involving "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and because of the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the scope of his vehicle business, and he took control than it.
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The initial "automobile" Carl Borgward made was the 1924 Blitzkarren (turbo cart), a sort of teeny 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 purchased for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the nonetheless three wheeler timber framed synthetic leather bodied 5 or maybe 7 hp Goliath Pioneer. Borgward turned his awareness of the other businesses as well as led the development in the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 along with in 1939 the title 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 many of the brand names from businesses he had acquired through the years to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business during a period of austerity and rationing. For many purposes the businesses would be run like a single entity, but in a business operated with a man to whom delegation did not come naturally the proliferation of legal entities nonetheless added unhelpful layers of complexity throughout the 1950s and encouraged a broadening on the range which in the long run proved financially unsustainable while using the sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.Among the top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most popular model and remained in production to the life of the organization. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers in the late 1950s, with the 16-valve engine from these learning to be a successful Formula Two power unit (which was also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such as air suspension and programmed transmission, the company had trouble competing available. While larger companies similar to Opel and VW took benefit from economies of scale and also kept their prices low to gain market share, Borgward's cost structure was even more than necessary for its measurement, as it basically run as four tiny independent companies and never implemented such basic expense reduction strategies as combined development and parts sharing relating to the company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced like a water-cooled boxer with entrance wheel drive, but plagued with problems including water leakage and gearbox snags. Lloyd lost money on the car although it was more expensive compared to its direct competitors.In 1961, the company was pressured into liquidation by loan companies. Carl Borgward died within July 1963, still insisting the company had been technically solvent. This proved to be true within the sense that after this creditors were paid fully, there was still 5. 5 million Marks left over from the business.
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Studies of difficulties at Borgward surfaced in the article that appeared throughout Germany's leading news mag, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly critical of Carl Borgward's organization approach, and included many on the arguments later advanced to spellout or justify the business's demise. The widest range regarding cars from any company in Germany, produced by three until eventually recently operationally autonomous businesses (Borgward, Goliath and Lloyd) ended up being supporting a turnover connected with only 650 million Scars, placing the overall sales value through the combined Borgward auto organizations only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation involving new and modified types featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") offered rise to components which excessively 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 in the past to the company.The December 1960 Spiegel article hasn't been the only serious open criticism targeting Borgward at the moment: suddenly stridently negative (in the event that more succinct) comments also resulted in in the influential mass-market Bild paper and in television stories. Critical media commentaries likewise appeared concerning large loans to the Borgward Group provided from the local Landesbank.It is apparent which the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses for instance auto manufacturing use their expensive machines and tools most efficiently when they use them constantly at full capacity, but the car market in Europe inside 1950s/60s was more periodic than today, with sales diminishing in Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars by the end of 1960 was beyond usual, reflecting ambitious growth options, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered from the North American dealers within 1960 (and on the 12, 000 delivered to these people) 6, 000 might have for being taken back following a slump in United states demand. (Borgward was not the only real European auto maker hit by the North American slump widely used for imported cars during 1960. In the same calendar year two ships carrying Renault Dauphines were turned 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 just one million Marks of credit history, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators decided provide. However, following the flood involving critical press comment this senators withdrew their assure. 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 the particular senate’s terms on 5 February 1961, thereby averting the bankruptcy in the business.The Bremen Senate also insisted on appointing its own nominee as chairman on the company’s supervisory board. The man they selected was Johannes Semler to whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice on the breadth of Semler’s occupation. He had studied law at university and worked initially like a lawyer. The scion of a leading Hamburg political family, in 1945 he received himself been a founding person in the centre-right CSU get together, and was a person in the Bundestag between 1950 and 1953. Despite his Hamburg roots, Semler was by this time around based in Munich, with a network of contacts from the Bavarian establishment that probably included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position inside Bizone. The appointment of Johannes Semler since the representative of the Bremen senators in order to chair the Borgward supervisory aboard would, in retrospect, contribute to the dispute that followed the Borgward personal bankruptcy.
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With 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings with the establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while concurrently protecting the interests associated with creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of their own, never had any goal of allowing the Borgward auto-businesses to survive.
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