Borgward is an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in your 1960s. The Borgward group created four brands of automobiles: 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 Chinese language investment, and unveiled the corporation's first new car in over 40 years, the BX7 at the actual 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business resume 1905 with the place in nearby Varel in the "Hansa Automobilgesellschaft" and the inspiration in Bremen itself associated with "Namag", maker of the Lloyd car. 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 from the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the scope of his automotive business, and he took control of it.
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 already in the market gap it filled. Traders with a small budget purchased for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the even now three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Founder. Borgward turned his attention to the other businesses in addition to led the development with the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 as well as 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 some of the brand names from companies he had acquired in recent times to found three independent 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 nokia's would be run as a single entity, but in a business operated with a 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 with the range which in the long run proved financially unsustainable while using sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.Among the top engineers at Borgward coming from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most popular model and remained in production to the life of the firm. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers in the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that is also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such because air suspension and intelligent transmission, the company had trouble competing in the market. While larger companies like 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 dimensions, as it basically run as four tiny independent companies and never implemented such basic price tag reduction strategies as articulation 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 entrance wheel drive, but plagued with problems for example water leakage and gearbox mistakes. Lloyd lost money on the car just about the most was more expensive than its direct competitors.In 1961, the company was pressured into liquidation by creditors. Carl Borgward died within July 1963, still insisting the company ended up technically solvent. This proved to be true in the sense that after the creditors were paid 100 %, there was still 5. 5 million Marks left over from the business.
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Reports of difficulties at Borgward surfaced in a article that appeared in Germany's leading news magazine, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places repeating Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly crucial of Carl Borgward's organization approach, and included many with the arguments later advanced to describe or justify the business's demise. The widest range regarding cars from any supplier in Germany, produced by three right up until recently operationally autonomous businesses (Borgward, Goliath and Lloyd) has been supporting a turnover of only 650 million Signifies, placing the overall sales value from the combined Borgward auto firms only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence while on an increasingly manic proliferation associated with new and modified designs featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") provided rise to components which many times did not work, broke down or dropped apart, resulting in massive charges for pre-delivery remediation and/or submit delivery warranty work that found their made use of to the company.The December 1960 Spiegel article has not been the only serious public criticism targeting Borgward at the moment: suddenly stridently negative (in the event more succinct) comments also resulted in in the influential mass-market Bild newspaper and in television studies. Critical media commentaries furthermore appeared concerning large loans to the Borgward Group provided with the local Landesbank.It is apparent which the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses such as auto manufacturing use their expensive machines and tools most efficiently as long as they use them constantly with full capacity, but the car market in Europe inside 1950s/60s was more seasons than today, with sales diminishing within Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars right at the end of 1960 was greater than usual, reflecting ambitious growth ideas, most obviously in respect of the us market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered with the North American dealers in 1960 (and on the 12, 000 delivered to all of them) 6, 000 might have to become taken back following a slump in United states demand. (Borgward was not the only real European auto maker hit by way of a North American slump widely used for imported cars in the course of 1960. In the same season two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached the bank for a further a single million Marks of credit history, the loan to be backed by the guarantee from the Bremen local government which initially the Bremen senators decided to provide. However, following the flood of critical press comment your senators withdrew their assurance. 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 in a still hostile media, Borgward agreed to your senate’s terms on 4 February 1961, thereby averting the bankruptcy of the business.The Bremen Senate additionally insisted on appointing a unique nominee as chairman of the company’s supervisory board. The man they chose was Johannes Semler which 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 profession. He had studied legislations at university and worked initially as being a lawyer. The scion of a number one Hamburg political family, in 1945 he received himself been a founding member of the centre-right CSU party, and was a member of the Bundestag between 1950 and also 1953. Despite his Hamburg origins, Semler was by this time around based in Munich, with a network of contacts in the Bavarian establishment that almost certainly included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position within the Bizone. The appointment of Johannes Semler because representative of the Bremen senators to chair the Borgward supervisory panel would, in retrospect, contribute to the debate that followed the Borgward a bankruptcy proceeding.
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With 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings to the establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the company to continue to trade while concurrently protecting the interests of creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of her own, never had any intent of allowing the Borgward auto-businesses to help survive.
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