Borgward is an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in the 1960s. The Borgward group produced four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the businesses first new car within 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 establishment in nearby Varel of the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself of "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and because of the late 1920s faced chapter 7. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand the particular scope of his automobile business, and he took control of computer.
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The very first "automobile" Carl Borgward intended was the 1924 Blitzkarren (turbo cart), a sort of small three-wheeled van with 3 hp (1. 5 kW), which was an enormous success on the market gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had by now evolved into the even now three wheeler timber presented synthetic leather bodied 5 or maybe 7 hp Goliath Leading. Borgward turned his care about the other businesses and also led the development with the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 and also in 1939 the title was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from companies he had acquired over the years to found three distinct 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 companies would be run like a single entity, but in a business operated with a man to whom delegation failed to come naturally the expansion of legal entities nevertheless added unhelpful layers of complexity through the 1950s and encouraged a broadening on the range which in the end proved financially unsustainable using the sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.Among the top engineers at Borgward 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 to the life of the firm. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that is also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such while air suspension and intelligent transmission, the company had trouble competing in the market. While larger companies just like Opel and VW took selling point of economies of scale along with kept their prices low to get market share, Borgward's cost structure was even beyond necessary for its dimensions, as it basically controlled as four tiny independent companies rather than implemented such basic charge reduction strategies as shared development and parts sharing between your company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced to be a water-cooled boxer with entrance wheel drive, but plagued with problems for example water leakage and gearbox glitches. Lloyd lost money on the car although it was more expensive as compared to its direct competitors.In 1961, the company was required into liquidation by loan companies. Carl Borgward died within July 1963, still insisting the company have been technically solvent. This proved to be true inside sense that after your creditors were paid fully, there was still several. 5 million Marks remaining from the business.
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Reports of difficulties at Borgward surfaced within an article that appeared with Germany's leading news journal, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly essential of Carl Borgward's small business approach, and included many on the arguments later advanced to spell out or justify the businesses demise. The widest range involving cars from any company in Germany, produced by three until recently operationally autonomous businesses (Borgward, Goliath and Lloyd) had been supporting a turnover regarding only 650 million Grades, placing the overall sales value on the combined Borgward auto firms only in fifth situation among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation of new and modified versions featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") offered rise to components which excessively did not work, broke down or fell into apart, resulting in massive costs for pre-delivery remediation and/or article delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article hasn't been the only serious open criticism targeting Borgward at the moment: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild magazine and in television reports. Critical media commentaries likewise appeared concerning large loans on the Borgward Group provided through the local Landesbank.It is apparent that this business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses like auto manufacturing use their own expensive machines and tools most efficiently as long as they use them constantly with full capacity, but the car market in Europe within the 1950s/60s was more in season than today, with sales diminishing within Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars by 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 with the 15, 000 Borgward cars ordered from the North American dealers in 1960 (and from the 12, 000 delivered to these) 6, 000 might have being taken back following a slump in North american demand. (Borgward was not the sole European auto maker hit by way of North American slump sought after for imported cars during 1960. In the same 12 months two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
Right at the end of December 1960 Borgward approached the bank for a further just one million Marks of credit ratings, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators decided provide. However, following the flood regarding critical press comment this senators withdrew their assurance. 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 a very still hostile media, Borgward agreed to the particular senate’s terms on 5 February 1961, thereby averting the bankruptcy on the business.The Bremen Senate in addition insisted on appointing a nominee as chairman in 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 occupation. He had studied law at university and worked initially as being a lawyer. The scion of a respected Hamburg political family, in 1945 he received himself been a founding member of the centre-right CSU get together, and was a person in the Bundestag between 1950 as well as 1953. Despite his Hamburg beginning, Semler was by now based in Munich, with a network of contacts within the Bavarian establishment that likely included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position from the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators to help chair the Borgward supervisory panel would, in retrospect, contribute to the hot debate that followed the Borgward a bankruptcy proceeding.
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About 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors of 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 business to continue to trade while while doing so protecting the interests involving creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of her own, never had any intention of allowing the Borgward auto-businesses to be able to survive.
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