Borgward can be an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in your 1960s. The Borgward group created four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's grandson, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from China investment, and unveiled the firm's first new car throughout over 40 years, the BX7 at the actual 2015 International Motor Present.The origins of Bremen's most significant auto-business get back to 1905 with the organization in nearby Varel of the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself associated with "Namag", maker of the Lloyd automobile. 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 by the late 1920s faced chapter 7. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand your scope of his automotive business, and he took control of it.
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The initial "automobile" Carl Borgward designed was the 1924 Blitzkarren (super cart), a sort of teeny 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 ordered for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the even now three wheeler timber framed synthetic leather bodied 5 or even 7 hp Goliath Pioneer. Borgward turned his care about the other businesses in addition to led the development with the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and in 1939 the identify was shortened to Borgward 2000. The 2000 model was as well as 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 corporations he had acquired over time to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business at the same time of austerity and rationing. For many purposes the businesses would be run as being a single entity, but in a business operated by way of man to whom delegation would not come naturally the spreading of legal entities however added unhelpful layers of complexity throughout the 1950s and encouraged a broadening of the range which in the long run proved financially unsustainable while using the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.One of the top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's hottest model and remained in production for the life of the firm. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that was also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such as air suspension and intelligent transmission, the company had trouble competing in the market. While larger companies including Opel and VW took benefit of economies of scale and kept their prices low to find market share, Borgward's cost structure was even greater than necessary for its sizing, as it basically run as four tiny independent companies and don't 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 being a water-cooled boxer with entry wheel drive, but plagued with problems including water leakage and gearbox mistakes. Lloyd lost money on the car community . was more expensive 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 had been technically solvent. This proved to be true inside sense that after your creditors were paid in full, there was still four. 5 million Marks left from the business.
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Stories of difficulties at Borgward surfaced within an article that appeared with Germany's leading news mag, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly critical of Carl Borgward's small business approach, and included many on the arguments later advanced to explain or justify the corporation's demise. The widest range involving cars from any manufacturer in Germany, produced by three until recently operationally autonomous organizations (Borgward, Goliath and Lloyd) had been supporting a turnover of only 650 million Represents, placing the overall sales value on the combined Borgward auto organizations only in fifth position 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") presented rise to components which too much did not work, broke down or droped apart, resulting in massive charges for pre-delivery remediation and/or submit delivery warranty work that found their long ago to the company.The December 1960 Spiegel article was not the only serious 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 paper and in television reviews. Critical media commentaries likewise appeared concerning large loans towards the Borgward Group provided with the local Landesbank.It is apparent the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses including auto manufacturing use their particular expensive machines and tools most efficiently when they use them constantly at full capacity, but the car market in Europe in the 1950s/60s was more seasonal than today, with sales diminishing throughout Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars towards the end of 1960 was greater than usual, reflecting ambitious growth options, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered because of the North American dealers with 1960 (and from the 12, 000 delivered to these people) 6, 000 might have for being taken back following a slump in American demand. (Borgward was not the only real European auto maker hit by way of North American slump successful for imported cars in the course of 1960. In the same year two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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At the conclusion of December 1960 Borgward approached the financial institution for a further 1 million Marks of credit rating, the loan to be backed with a guarantee from the Bremen local government which initially the Bremen senators decided provide. However, following the flood regarding critical press comment the particular senators withdrew their guarantee. They now required Carl Borgward to pledge the organization itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported inside a still hostile media, Borgward agreed to the actual senate’s terms on some February 1961, thereby averting the bankruptcy with the business.The Bremen Senate furthermore insisted on appointing its nominee as chairman of the company’s supervisory board. The man they decided to go with was Johannes Semler with whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in English, does less than full justice towards the breadth of Semler’s occupation. He had studied legislation at university and worked initially to be a lawyer. The scion of a respected Hamburg political family, in 1945 he had himself been a founding person in the centre-right CSU gathering, and was a person in the Bundestag between 1950 as well as 1953. Despite his Hamburg roots, Semler was by these times based in Munich, with a network of contacts within the Bavarian establishment that possibly included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position from the Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators for you to chair the Borgward supervisory mother board would, in retrospect, contribute to the debate that followed the Borgward a bankruptcy proceeding.
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In 28 July 1961 Semler, as Chairman of this supervisory board joined the directors in the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling this company to continue to trade while while doing so protecting the interests of creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” get 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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