Borgward can be an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen with Germany, ceased operations in the actual 1960s. The Borgward group made four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's son, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the businesses first new car within over 40 years, the BX7 at this 2015 International Motor Present.The origins of Bremen's most significant auto-business get back to 1905 with the establishment in nearby Varel with the "Hansa Automobilgesellschaft" and the walls in Bremen itself regarding "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economy then confronting Germany, the business failed to prosper and with the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand the scope of his auto business, and he took control of computer.
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The first "automobile" Carl Borgward made 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 out there gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered many of them for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the nevertheless three wheeler timber framed synthetic leather bodied 5 or even 7 hp Goliath Leader. Borgward turned his care about the other businesses and led the development on the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 along with in 1939 the title was shortened to Borgward 2000. The 2000 model was as well as 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 corporations he had acquired through the years to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business at the same time of austerity and rationing. For many purposes the lenders would be run as a single entity, but in a business operated by way of a man to whom delegation did not come naturally the expansion of legal entities nonetheless added unhelpful layers of complexity through the 1950s and encouraged a broadening of the range which finally proved financially unsustainable while using sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.One of several top engineers at Borgward coming from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's hottest model and remained in production with the life of the corporation. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (which has been also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such seeing that air suspension and intelligent transmission, the company had trouble competing in the marketplace. While larger companies just like Opel and VW took selling point of economies of scale along with kept their prices low to gain market share, Borgward's cost structure was even above necessary for its dimension, as it basically controlled as four tiny independent companies rather than implemented such basic expense reduction strategies as articulation development and parts sharing between your company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced being 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 than its direct competitors.In 1961, the company was pressured 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 fully, there was still some. 5 million Marks left over from the business.
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Reports of difficulties at Borgward surfaced in an article that appeared within Germany's leading news mag, “Der Spiegel” on 14 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 top cover. It was strongly vital of Carl Borgward's small business approach, and included many from the arguments later advanced to spell out or justify the business's demise. The widest range connected with cars from any manufacturer in Germany, produced by three right up until recently operationally autonomous organizations (Borgward, Goliath and Lloyd) ended up being supporting a turnover connected with only 650 million Marks, placing the overall sales value through the combined Borgward auto corporations only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation involving new and modified models featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") presented rise to components which too much did not work, broke down or chop down apart, resulting in massive expenses for pre-delivery remediation and/or article delivery warranty work that found their in the past to the company.The December 1960 Spiegel article wasn't the only serious open public criticism targeting Borgward right now: suddenly stridently negative (in the event more succinct) comments also resulted in in the influential mass-market Bild classifieds and in television accounts. Critical media commentaries furthermore appeared concerning large loans towards Borgward Group provided from the local Landesbank.It is apparent how the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses including auto manufacturing use their particular expensive machines and tools most efficiently should they use them constantly with full capacity, but the car market in Europe inside the 1950s/60s was more temporary than today, with sales diminishing inside Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars towards 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 through the North American dealers with 1960 (and in the 12, 000 delivered to these people) 6, 000 might have to become taken back following a slump in United states demand. (Borgward was not the one European auto maker hit by the North American slump sought after for imported cars in the course of 1960. In the same yr two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached the bank for a further a single million Marks of credit, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators opted for provide. However, following the flood involving critical press comment this senators withdrew their assurance. They now required Carl Borgward to pledge this 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 senate’s terms on 4 February 1961, thereby averting the bankruptcy of the business.The Bremen Senate in addition insisted on appointing its nominee as chairman from the company’s supervisory board. The man they decided was Johannes Semler who reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice on the breadth of Semler’s profession. He had studied law at university and worked initially to be a lawyer. The scion of a leading Hamburg political family, in 1945 he had himself been a founding member of the centre-right CSU party, and was a person in the Bundestag between 1950 as well as 1953. Despite his Hamburg roots, Semler was by now 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 in a top administrative position inside Bizone. The appointment of Johannes Semler because the representative of the Bremen senators to help chair the Borgward supervisory table would, in retrospect, contribute to the conflict that followed the Borgward bankruptcy.
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On 28 July 1961 Semler, as Chairman of the supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided to get a court sanctioned scheme of arrangement enabling the organization to continue to trade while at the same time protecting the interests regarding creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of their own, never had any objective of allowing the Borgward auto-businesses to be able to survive.
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