Borgward is an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in the particular 1960s. The Borgward group produced 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 companion Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the businesses first new car throughout over 40 years, the BX7 at your 2015 International Motor Indicate.The origins of Bremen's most significant auto-business get back to 1905 with the business in nearby Varel in the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself involving "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 individual bankruptcy. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand this scope of his automobile business, and he took control of it.
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The very first "automobile" Carl Borgward created was the 1924 Blitzkarren (super cart), a sort of very small three-wheeled van with 2 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 representative of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the even now three wheeler timber framed synthetic leather bodied 5 or 7 hp Goliath Leader. Borgward turned his attention to the other businesses along with led the development with the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 and in 1939 the brand 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 some of the brand names from companies he had acquired in the past to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business at any given time of austerity and rationing. For many purposes nokia's would be run as being a single entity, but in a business operated by a man to whom delegation wouldn't come naturally the growth of legal entities on the other hand added unhelpful layers of complexity with the 1950s and encouraged a broadening of the range which in the end proved financially unsustainable while using the 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 began in 1954. The Isabella would become Borgward's most in-demand model and remained in production with the life of the corporation. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (which was also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such since air suspension and automated transmission, the company had trouble competing in the market. While larger companies like Opel and VW took advantage of economies of scale and kept their prices low to find market share, Borgward's cost structure was even more than necessary for its dimensions, as it basically managed as four tiny independent companies and not implemented such basic cost reduction strategies as mutual development and parts sharing relating to the company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced as being a water-cooled boxer with front wheel drive, but plagued with problems like water leakage and gearbox glitches. Lloyd lost money on the car even though it was more expensive as compared to its direct competitors.In 1961, the company was compelled into liquidation by lenders. Carl Borgward died throughout July 1963, still insisting the company was technically solvent. This proved to be true within the sense that after the actual creditors were paid 100 %, there was still several. 5 million Marks left from the business.
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Reports of difficulties at Borgward surfaced in the article that appeared throughout Germany's leading news magazine, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places repeating 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 company approach, and included many with the arguments later advanced to describe or justify the businesses demise. The widest range of cars from any producer in Germany, produced by three right up until recently operationally autonomous firms (Borgward, Goliath and Lloyd) has been supporting a turnover involving only 650 million Represents, placing the overall sales value from your combined Borgward auto companies only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation involving new and modified types featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") afforded rise to components which too much did not work, broke down or fell into apart, resulting in massive expenses for pre-delivery remediation and/or article delivery warranty work that found their way back 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 the event more succinct) comments also turned up in the influential mass-market Bild newspapers and in television stories. Critical media commentaries in addition appeared concerning large loans to the Borgward Group provided with the local Landesbank.It is apparent that the 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 whenever they use them constantly on full capacity, but the car market in Europe inside 1950s/60s was more periodic than today, with sales diminishing with Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars at the conclusion of 1960 was more than usual, reflecting ambitious growth options, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered with the North American dealers with 1960 (and with the 12, 000 delivered to these individuals) 6, 000 might have to get taken back following a slump in American demand. (Borgward was not the one European auto maker hit by way of a North American slump sought after for imported cars throughout 1960. In the same 12 months two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached the financial institution for a further just one million Marks of credit rating, 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 this senators withdrew their guarantee. 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 the still hostile media, Borgward agreed to this senate’s terms on several February 1961, thereby averting the bankruptcy in the business.The Bremen Senate furthermore insisted on appointing a nominee as chairman on the company’s supervisory board. The man they selected was Johannes Semler with whom reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice towards the breadth of Semler’s vocation. He had studied regulation at university and worked initially being a lawyer. The scion of a top Hamburg political family, in 1945 he experienced himself been a founding member of the centre-right CSU bash, and was a member of the Bundestag between 1950 along with 1953. Despite his Hamburg sources, Semler was by these times based in Munich, with a network of contacts within the 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 because the representative of the Bremen senators to help chair the Borgward supervisory panel would, in retrospect, contribute to the dispute that followed the Borgward personal bankruptcy.
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About 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the company to continue to trade while while doing so protecting the interests regarding creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of his or her own, never had any intent of allowing the Borgward auto-businesses for you to survive.
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