Borgward can be an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in your 1960s. The Borgward group generated 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 lover Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the company's first new car inside over 40 years, the BX7 at the 2015 International Motor Indicate.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 walls in Bremen itself regarding "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 to make 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 individual bankruptcy. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand the actual scope of his automotive business, and he took control of computer.
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The primary "automobile" Carl Borgward intended was the 1924 Blitzkarren (super cart), a sort of tiny three-wheeled van with two hp (1. 5 kW), which was an enormous success already 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 representative of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the nevertheless three wheeler timber presented synthetic leather bodied 5 or even 7 hp Goliath Pioneer. Borgward turned his awareness of the other businesses in addition to led the development of the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 along with in 1939 the brand was shortened to Borgward 2000. The 2000 model was followed by the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used a number 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 during a period of austerity and rationing. For many purposes the businesses would be run as being a single entity, but in a business operated with a man to whom delegation wouldn't come naturally the growth of legal entities on the other hand added unhelpful layers of complexity over the 1950s and encouraged a broadening from the range which ultimately proved financially unsustainable using the sales volumes achievable. In 1949 company introduced 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 with the life of the business. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that has been also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such seeing that air suspension and automatic transmission, the company had trouble competing in the market. While larger companies such as Opel and VW took benefit of economies of scale and kept their prices low to realize market share, Borgward's cost structure was even more than necessary for its measurement, as it basically handled as four tiny independent companies and not implemented such basic cost reduction strategies as combined development and parts sharing between company's makes. Borgward suffered quality problems as well. The Lloyd Arabella was technically advanced being a water-cooled boxer with entry wheel drive, but plagued with problems for example water leakage and gearbox mistakes. Lloyd lost money on the car although it was more expensive in comparison with its direct competitors.In 1961, the company was pressured into liquidation by collectors. Carl Borgward died inside July 1963, still insisting the company was technically solvent. This proved to be true inside sense that after the particular creditors were paid completely, there was still 5. 5 million Marks left over from the business.
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Reviews of difficulties at Borgward surfaced in an article that appeared inside Germany's leading news mag, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s front cover. It was strongly critical of Carl Borgward's business approach, and included many on the arguments later advanced to spell out or justify the businesses demise. The widest range of cars from any company in Germany, produced by three until recently operationally autonomous corporations (Borgward, Goliath and Lloyd) was supporting a turnover of only 650 million Represents, placing the overall sales value on the combined Borgward auto businesses only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence when using increasingly manic proliferation regarding new and modified models featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") offered rise to components which too often did not work, broke down or fell apart, resulting in massive expenses for pre-delivery remediation and/or publish delivery warranty work that found their long ago to the company.The December 1960 Spiegel article had not been the only serious open criticism targeting Borgward presently: suddenly stridently negative (in case more succinct) comments also turned up in the influential mass-market Bild newspapers and in television reports. Critical media commentaries also appeared concerning large loans on the Borgward Group provided through the local Landesbank.It is apparent that this business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses including auto manufacturing use his or her expensive machines and tools most efficiently when they use them constantly with full capacity, but the car market in Europe inside the 1950s/60s was more periodic than today, with sales diminishing with Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars right at the end of 1960 was higher than usual, reflecting ambitious growth programs, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered through the North American dealers inside 1960 (and in the 12, 000 delivered to these people) 6, 000 might have to be taken back following a slump in United states demand. (Borgward was not really the only European auto maker hit with a North American slump popular for imported cars while in 1960. In the same season two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the bank for a further just one million Marks of credit ratings, 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 associated with critical press comment this senators withdrew their assurance. They now required Carl Borgward to pledge the company itself to the state in return for the guarantee. After a tense 13-hour meeting widely reported in the still hostile media, Borgward agreed to your senate’s terms on 5 February 1961, thereby averting the bankruptcy in the business.The Bremen Senate additionally insisted on appointing its nominee as chairman from the company’s supervisory board. The man they decided to go with was Johannes Semler to whom reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated into English, does less than full justice towards breadth of Semler’s career. He had studied legislations at university and worked initially to be a lawyer. The scion of a leading Hamburg political family, in 1945 he experienced himself been a founding member of the centre-right CSU gathering, and was a member of the Bundestag between 1950 along with 1953. Despite his Hamburg sources, Semler was by on this occasion based in Munich, with a network of contacts in the Bavarian establishment that likely included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position inside Bizone. The appointment of Johannes Semler as the representative of the Bremen senators for you to chair the Borgward supervisory table would, in retrospect, contribute to the conflict that followed the Borgward chapter 7.
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In 28 July 1961 Semler, as Chairman of your supervisory board joined the directors from the three companies Borgward, Goliath and Lloyd to instigate proceedings for your establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while at the same time protecting the interests of creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of their own, never had any purpose of allowing the Borgward auto-businesses to be able to survive.
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