Borgward is usually 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 created four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grand son, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from China investment, and unveiled the corporation's first new car with 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 organization in nearby Varel with the "Hansa Automobilgesellschaft" and the muse in Bremen itself regarding "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economic situation then confronting Germany, the business failed to prosper and through the late 1920s faced chapter 7. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the particular scope of his auto business, and he took control than it.
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The initial "automobile" Carl Borgward created was the 1924 Blitzkarren (super cart), a sort of little three-wheeled van with two hp (1. 5 kW), which was an enormous success on the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered some of them for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the still three wheeler timber presented synthetic leather bodied 5 or even 7 hp Goliath Pioneer. Borgward turned his attention to the other businesses and also led the development from the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 and also in 1939 the brand was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that remained in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from businesses he had acquired in the past to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business during a period of austerity and rationing. For many purposes the lenders would be run being a single entity, but in a business operated by way of man to whom delegation wouldn't come naturally the growth of legal entities however added unhelpful layers of complexity through the 1950s and encouraged a broadening of the range which in the end proved financially unsustainable while using sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.One of several 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 most widely used model and remained in production to the life of the organization. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these transforming into a successful Formula Two power unit (that is also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such since air suspension and intelligent transmission, the company had trouble competing available on the market. While larger companies such as Opel and VW took benefit of economies of scale as well as kept their prices low to realize market share, Borgward's cost structure was even higher than necessary for its size, as it basically operated as four tiny independent companies and don't implemented such basic price tag reduction strategies as shared development and parts sharing between company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced being a water-cooled boxer with the 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 when compared with its direct competitors.In 1961, the company was forced into liquidation by creditors. Carl Borgward died inside July 1963, still insisting the company had been technically solvent. This proved to be true inside sense that after your creditors were paid completely, there was still four. 5 million Marks left from the business.
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Reports of difficulties at Borgward surfaced in a article that appeared within Germany's leading news newspaper, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted by means of 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 from the arguments later advanced to describe or justify the businesses demise. The widest range regarding cars from any producer in Germany, produced by three until recently operationally autonomous companies (Borgward, Goliath and Lloyd) had been supporting a turnover regarding only 650 million Scars, 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 while on an increasingly manic proliferation regarding new and modified designs featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") presented rise to components which all too often 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 sources that are to the company.The December 1960 Spiegel article wasn't the only serious open criticism targeting Borgward right now: suddenly stridently negative (in the event that more succinct) comments also resulted in in the influential mass-market Bild newspaper and in television stories. Critical media commentaries likewise appeared concerning large loans for 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 including auto manufacturing use their particular expensive machines and tools most efficiently should they use them constantly on full capacity, but the car market in Europe from the 1950s/60s was more seasonal than today, with sales diminishing in Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars at the end of 1960 was more than usual, reflecting ambitious growth plans, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered through the North American dealers throughout 1960 (and in the 12, 000 delivered to them) 6, 000 might have for being taken back following a slump in United states demand. (Borgward was not the only European auto maker hit with a North American slump in demand for imported cars during 1960. In the same 12 months two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached the bank for a further one particular million Marks of credit score, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators decided provide. However, following the flood connected with 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 4 February 1961, thereby averting the bankruptcy on the business.The Bremen Senate likewise insisted on appointing its nominee as chairman of the company’s supervisory board. The man they decided to go with was Johannes Semler to whom reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice for the breadth of Semler’s occupation. He had studied legislations at university and worked initially like a lawyer. The scion of a respected Hamburg political family, in 1945 he acquired himself been a founding person in the centre-right CSU celebration, and was a member of the Bundestag between 1950 in addition to 1953. Despite his Hamburg roots, Semler was by now based in Munich, with a network of contacts within the Bavarian establishment that most likely included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position from the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators in order to chair the Borgward supervisory table would, in retrospect, contribute to the hot debate that followed the Borgward chapter 7.
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With 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors from the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the organization to continue to trade while simultaneously protecting the interests involving creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of their own, never had any intent of allowing the Borgward auto-businesses for you to survive.
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