Borgward is surely an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in this 1960s. The Borgward group produced four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the business's first new car in over 40 years, the BX7 at the particular 2015 International Motor Display.The origins of Bremen's most significant auto-business resume 1905 with the place in nearby Varel on the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself involving "Namag", maker of the Lloyd car. These two businesses merged in 1914 to make the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis 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 the opportunity greatly to expand the particular scope of his automotive business, and he took control of the usb ports.
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The very first "automobile" Carl Borgward made was the 1924 Blitzkarren (turbo cart), a sort of very small three-wheeled van with 3 hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the nevertheless three wheeler timber framed synthetic leather bodied 5 or perhaps 7 hp Goliath Pioneer. Borgward turned his awareness of the other businesses and led the development from the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 along with in 1939 the name was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from corporations he had acquired over the years to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business at any given time of austerity and rationing. For many purposes the companies would be run like a single entity, but in a business operated by a man to whom delegation didn't come naturally the growth of legal entities however added unhelpful layers of complexity throughout the 1950s and encouraged a broadening in the range which in the end proved financially unsustainable using the sales volumes achievable. In 1949 company displayed the Borgward Hansa 1500.Among the top engineers at Borgward via 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella commenced in 1954. The Isabella would become Borgward's hottest model and remained in production with the life of the company. In 1960 the Borgward P100 had been introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line of 1500 cc sports racers within the late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that was also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties from the German market such as air suspension and intelligent transmission, the company had trouble competing in the marketplace. While larger companies such as Opel and VW took advantage of economies of scale and also kept their prices low to achieve market share, Borgward's cost structure was even above necessary for its size, as it basically operated as four tiny independent companies and not implemented such basic price reduction strategies as mutual development and parts sharing involving the company's makes. Borgward suffered quality problems at the same time. The Lloyd Arabella was technically advanced being a water-cooled boxer with entry wheel drive, but plagued with problems for instance water leakage and gearbox mistakes. Lloyd lost money on the car although it was more expensive compared to its direct competitors.In 1961, the company was compelled into liquidation by credit card companies. Carl Borgward died within July 1963, still insisting the company have been technically solvent. This proved to be true in the sense that after this creditors were paid in full, there was still four. 5 million Marks left over from the business.
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Accounts of difficulties at Borgward surfaced in the article that appeared inside Germany's leading news mag, “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 entrance cover. It was strongly critical of Carl Borgward's company approach, and included many with the arguments later advanced to describe or justify the business's demise. The widest range of cars from any company in Germany, produced by three till recently operationally autonomous organizations (Borgward, Goliath and Lloyd) was supporting a turnover connected with only 650 million Represents, placing the overall sales value through the combined Borgward auto firms only in fifth place among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation of new and modified types featuring adventurous, but under-developed technological improvements ("fast manisch[e] Konstruierwut") presented rise to components which too much did not work, broke down or dropped apart, resulting in massive bills 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 hasn't been the only serious community criticism targeting Borgward at this time: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild paper and in television reviews. Critical media commentaries additionally appeared concerning large loans towards Borgward Group provided by the local Landesbank.It is apparent how the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses for example auto manufacturing use their expensive machines and tools most efficiently as long as they use them constantly from full capacity, but the car market in Europe from the 1950s/60s was more periodic than today, with sales diminishing in Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars towards the end of 1960 was higher than usual, reflecting ambitious growth strategies, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered from the North American dealers within 1960 (and of the 12, 000 delivered to these individuals) 6, 000 might have to get taken back following a slump in North american demand. (Borgward was not really the only European auto maker hit by the North American slump widely used for imported cars through 1960. In the same year two ships carrying Renault Dauphines were turned in mid-Atlantic because the docks in New york were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the financial institution for a further 1 million Marks of credit score, the loan to be backed by way of a guarantee from the Bremen regional government which initially the Bremen senators decided provide. However, following the flood of critical press comment the senators withdrew their assurance. They now required Carl Borgward to pledge the corporation itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported in the still hostile media, Borgward agreed to the senate’s terms on some February 1961, thereby averting the bankruptcy from the business.The Bremen Senate additionally insisted on appointing its very own nominee as chairman on the company’s supervisory board. The man they decided was Johannes Semler with whom reports generally describe to be a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice on the breadth of Semler’s job. He had studied regulation at university and worked initially as being a lawyer. The scion of a number one Hamburg political family, in 1945 he acquired himself been a founding member of the centre-right CSU gathering, and was a member of the Bundestag between 1950 and also 1953. Despite his Hamburg beginnings, Semler was by these times based in Munich, with a network of contacts within the Bavarian establishment that possibly included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position inside the Bizone. The appointment of Johannes Semler because representative of the Bremen senators to chair the Borgward supervisory board would, in retrospect, contribute to the hot debate that followed the Borgward personal bankruptcy.
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With 28 July 1961 Semler, as Chairman of the particular supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings for the establishment of a “Vergleichsverfahren”, which would have provided for any court sanctioned scheme of arrangement enabling the organization to continue to trade while as well protecting the interests associated with creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of his very own, never had any intention of allowing the Borgward auto-businesses in order to survive.
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