Borgward is usually an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in your 1960s. The Borgward group generated four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has given that been revived by Carl Borgward's grand son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the corporation's first new car in over 40 years, the BX7 at the actual 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business resume 1905 with the place in nearby Varel of the "Hansa Automobilgesellschaft" and the muse in Bremen itself of "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and from 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 chance greatly to expand your scope of his car business, and he took control of it.
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The first "automobile" Carl Borgward made was the 1924 Blitzkarren (super cart), a sort of little three-wheeled van with only two hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered many 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 chances are evolved into the still three wheeler timber framed synthetic leather bodied 5 or even 7 hp Goliath Leader. Borgward turned his care about the other businesses and also led the development of the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 in addition to in 1939 the title was shortened to Borgward 2000. The 2000 model was accompanied by the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used a number of the brand names from companies he had acquired over time to found three separate 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 firms would be run being a single entity, but in a business operated with a man to whom delegation would not come naturally the expansion of legal entities however added unhelpful layers of complexity from the 1950s and encouraged a broadening on the range which finally proved financially unsustainable with the sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.One of several top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's most popular model and remained in production for that life of the company. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers inside late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that has been also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such while air suspension and automated transmission, the company had trouble competing available on the market. While larger companies including Opel and VW took selling point of economies of scale and also kept their prices low to find market share, Borgward's cost structure was even higher than necessary for its size, as it basically run as four tiny independent companies and never implemented such basic price reduction strategies as combined development and parts sharing relating to the company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced like a water-cooled boxer with top wheel drive, but plagued with problems like water leakage and gearbox secrets. Lloyd lost money on the car although it was more expensive in comparison with its direct competitors.In 1961, the company was required into liquidation by loan companies. Carl Borgward died inside July 1963, still insisting the company were being technically solvent. This proved to be true inside sense that after the creditors were paid entirely, there was still some. 5 million Marks left over from the business.
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Reviews of difficulties at Borgward surfaced within the article that appeared within Germany's leading news mag, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly crucial of Carl Borgward's business approach, and included many in the arguments later advanced to go into detail or justify the business's demise. The widest range regarding cars from any maker in Germany, produced by three right up until recently operationally autonomous organizations (Borgward, Goliath and Lloyd) has been supporting a turnover of only 650 million Represents, placing the overall sales value in the combined Borgward auto organizations only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation regarding new and modified designs featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") presented rise to components which many times did not work, broke down or fell apart, resulting in massive costs for pre-delivery remediation and/or article delivery warranty work that found their long ago to the company.The December 1960 Spiegel article has not been the only serious general public criticism targeting Borgward at this time: suddenly stridently negative (in case more succinct) comments also turned up in the influential mass-market Bild magazine and in television stories. Critical media commentaries likewise appeared concerning large loans for the Borgward Group provided from the local Landesbank.It is apparent that this business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses for example auto manufacturing use his or her expensive machines and tools most efficiently when they use them constantly in full capacity, but the car market in Europe from 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 more than usual, reflecting ambitious growth strategies, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered with the North American dealers within 1960 (and of the 12, 000 delivered to these) 6, 000 might have being taken back following a slump in American demand. (Borgward was not the only real European auto maker hit by a North American slump widely used for imported cars throughout 1960. In the same season two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Ny 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, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators consented to provide. However, following the flood connected with critical press comment the actual senators withdrew their promise. 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 within a still hostile media, Borgward agreed to the particular senate’s terms on 4 February 1961, thereby averting the bankruptcy from the business.The Bremen Senate also insisted on appointing its nominee as chairman from the company’s supervisory board. The man they decided was Johannes Semler with whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice to the breadth of Semler’s occupation. He had studied legislations at university and worked initially to be a lawyer. The scion of a leading Hamburg political family, in 1945 he got 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 on this occasion based in Munich, with a network of contacts inside the Bavarian establishment that probably included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position in the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators in order to chair the Borgward supervisory panel would, in retrospect, contribute to the controversy that followed the Borgward bankruptcy.
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On 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 the establishment of a “Vergleichsverfahren”, which would have provided to get a court sanctioned scheme of arrangement enabling the business to continue to trade while simultaneously protecting the interests regarding creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath firms 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 objective of allowing the Borgward auto-businesses to survive.
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