Borgward is an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in this 1960s. The Borgward group made four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the businesses first new car within over 40 years, the BX7 at this 2015 International Motor Present.The origins of Bremen's most significant auto-business get back to 1905 with the place in nearby Varel in the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself associated with "Namag", maker of the Lloyd auto. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and through the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented an opportunity greatly to expand the scope of his automotive business, and he took control of computer.
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The 1st "automobile" Carl Borgward designed was the 1924 Blitzkarren (super cart), a sort of tiny three-wheeled van with only two 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 many for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the nevertheless three wheeler timber framed synthetic leather bodied 5 or maybe 7 hp Goliath Founder. Borgward turned his care about the other businesses and also led the development from the Hansa Konsul. In February 1937, there came the brand-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 remained in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from organizations he had acquired over time to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase how much steel allocated to his business at the same time of austerity and rationing. For many purposes the companies would be run being a single entity, but in a business operated by way of a man to whom delegation failed to come naturally the expansion of legal entities nonetheless added unhelpful layers of complexity with the 1950s and encouraged a broadening with the range which finally proved financially unsustainable using the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.On the list of top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most widely used model and remained in production for that life of the corporation. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (which has been also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties within the German market such seeing that air suspension and automatic transmission, the company had trouble competing available on the market. While larger companies similar to Opel and VW took selling point of economies of scale as well as kept their prices low to find market share, Borgward's cost structure was even more than necessary for its sizing, as it basically managed as four tiny independent companies and never implemented such basic price tag reduction strategies as shared development and parts sharing between your company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced as being a water-cooled boxer with entrance wheel drive, but plagued with problems such as 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 compelled into liquidation by credit card companies. Carl Borgward died with July 1963, still insisting the company were being technically solvent. This proved to be true in the sense that after your creditors were paid fully, 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 mag, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly important of Carl Borgward's small business approach, and included many on the arguments later advanced to spell out or justify the company's demise. The widest range associated with cars from any maker in Germany, produced by three until finally recently operationally autonomous corporations (Borgward, Goliath and Lloyd) was supporting a turnover of only 650 million Grades, placing the overall sales value from the combined Borgward auto corporations only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation associated with new and modified types featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") presented rise to components which many times did not work, broke down or droped apart, resulting in massive expenses for pre-delivery remediation and/or article delivery warranty work that found their in the past to the company.The December 1960 Spiegel article has not been the only serious open public criticism targeting Borgward at the moment: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild newspaper and in television accounts. Critical media commentaries additionally appeared concerning large loans for the Borgward Group provided through the local Landesbank.It is apparent how the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses for instance auto manufacturing use their particular expensive machines and tools most efficiently if they use them constantly with full capacity, but the car market in Europe in the 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 by the end of 1960 was greater than usual, reflecting ambitious growth strategies, 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 inside 1960 (and on the 12, 000 delivered to these) 6, 000 might have to be taken back following a slump in Us demand. (Borgward was not the one European auto maker hit by way of North American slump in demand for imported cars throughout 1960. In the same yr two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in Big apple were overcrowded with unsold Dauphines.
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By the end of December 1960 Borgward approached your banker for a further a single million Marks of credit rating, the loan to be backed by way of a guarantee from the Bremen local government which initially the Bremen senators opted for provide. However, following the flood of critical press comment the particular 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 this senate’s terms on 4 February 1961, thereby averting the bankruptcy of the business.The Bremen Senate likewise insisted on appointing a unique nominee as chairman on the company’s supervisory board. The man they select was Johannes Semler to whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice for the breadth of Semler’s occupation. He had studied law at university and worked initially being a lawyer. The scion of a respected Hamburg political family, in 1945 he experienced himself been a founding person in the centre-right CSU bash, and was a member of the Bundestag between 1950 and 1953. Despite his Hamburg roots, Semler was by this time based in Munich, with a network of contacts in the Bavarian establishment that possibly included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position in the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators in order to chair the Borgward supervisory table would, in retrospect, contribute to the debate that followed the Borgward personal bankruptcy.
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About 28 July 1961 Semler, as Chairman of the actual supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling the organization to continue to trade while while doing so protecting the interests associated with creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November from 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 in order to survive.
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