Borgward can be an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in this 1960s. The Borgward group developed four brands of automobiles: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's grandson, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the corporation's first new car within over 40 years, the BX7 at your 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business go back to 1905 with the institution in nearby Varel in the "Hansa Automobilgesellschaft" and the foundation in Bremen itself of "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 financial crisis then confronting Germany, the business failed to prosper and because of the late 1920s faced individual bankruptcy. 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 car business, and he took control than it.
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The 1st "automobile" Carl Borgward intended was the 1924 Blitzkarren (lightning cart), a sort of small three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the even now three wheeler timber framed synthetic leather bodied 5 or even 7 hp Goliath Founder. Borgward turned his focus on the other businesses and also led the development in the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 along with in 1939 the title was shortened to Borgward 2000. The 2000 model was and then the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from businesses he had acquired over time to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business at a time of austerity and rationing. For many purposes nokia's would be run to be a single entity, but in a business operated by a man to whom delegation didn't come naturally the expansion of legal entities on the other hand added unhelpful layers of complexity with the 1950s and encouraged a broadening in the range which in the end proved financially unsustainable using the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.On the list of top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most favored model and remained in production with the life of the business. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (that was also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such because air suspension and intelligent transmission, the company had trouble competing out there. While larger companies just like Opel and VW took advantage of economies of scale and kept their prices low to achieve market share, Borgward's cost structure was even above necessary for its dimensions, as it basically controlled as four tiny independent companies rather than implemented such basic expense reduction strategies as combined development and parts sharing between your company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced as a water-cooled boxer with 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 in comparison with its direct competitors.In 1961, the company was forced into liquidation by creditors. Carl Borgward died in July 1963, still insisting the company was technically solvent. This proved to be true from the sense that after the particular creditors were paid completely, there was still some. 5 million Marks remaining from the business.
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Reports of difficulties at Borgward surfaced in a article that appeared within Germany's leading news journal, “Der Spiegel” on 18 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly vital of Carl Borgward's company approach, and included many with the arguments later advanced to spellout or justify the firm's demise. The widest range associated with cars from any producer in Germany, produced by three right up until recently operationally autonomous firms (Borgward, Goliath and Lloyd) was supporting a turnover involving only 650 million Grades, placing the overall sales value from the combined Borgward auto organizations only in fifth place 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 versions featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") afforded rise to components which all too often did not work, broke down or fell apart, resulting in massive charges for pre-delivery remediation and/or write-up delivery warranty work that found their made use of to the company.The December 1960 Spiegel article wasn't the only serious public criticism targeting Borgward currently: suddenly stridently negative (in the event more succinct) comments also resulted in in the influential mass-market Bild newspapers and in television accounts. Critical media commentaries furthermore appeared concerning large loans on the Borgward Group provided through the local Landesbank.It is apparent the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses for example auto manufacturing use their own expensive machines and tools most efficiently should they use them constantly on full capacity, but the car market in Europe within the 1950s/60s was more in season than today, with sales diminishing in Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars by the end of 1960 was higher than usual, reflecting ambitious growth plans, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered through the North American dealers inside 1960 (and from the 12, 000 delivered to them) 6, 000 might have to become taken back following a slump in Us demand. (Borgward was not the sole European auto maker hit by a North American slump in demand for imported cars during 1960. In the same yr two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
At the end of December 1960 Borgward approached the lending company for a further one particular million Marks of credit rating, the loan to be backed with a guarantee from the Bremen regional government which initially the Bremen senators agreed to provide. However, following the flood regarding critical press comment the actual 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 within a still hostile media, Borgward agreed to the particular senate’s terms on four February 1961, thereby averting the bankruptcy from the business.The Bremen Senate additionally insisted on appointing a unique nominee as chairman with the company’s supervisory board. The man they decided was Johannes Semler whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice towards the breadth of Semler’s profession. He had studied legislation at university and worked initially being a lawyer. The scion of a number one Hamburg political family, in 1945 he had himself been a founding person in the centre-right CSU get together, and was a person in the Bundestag between 1950 and also 1953. Despite his Hamburg beginning, Semler was by these times based in Munich, with a network of contacts from the Bavarian establishment that most likely included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler within a top administrative position from the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators to be able to chair the Borgward supervisory panel would, in retrospect, contribute to the controversy that followed the Borgward chapter 7.
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On 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the company to continue to trade while concurrently protecting the interests connected with creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November through the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of her own, never had any goal of allowing the Borgward auto-businesses for you to survive.
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