Borgward is usually an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen with 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 grand son, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the company's first new car throughout over 40 years, the BX7 at this 2015 International Motor Indicate.The origins of Bremen's most significant auto-business go back to 1905 with the organization in nearby Varel with the "Hansa Automobilgesellschaft" and the foundation in Bremen itself of "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economy 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 this scope of his vehicle business, and he took control of computer.
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The first "automobile" Carl Borgward designed was the 1924 Blitzkarren (turbo cart), a sort of tiny three-wheeled van with a couple of hp (1. 5 kW), which was an enormous success out there gap it filled. Traders with a small budget purchased for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Company. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had right now evolved into the still three wheeler timber framed synthetic leather bodied 5 or even 7 hp Goliath Leading. Borgward turned his attention to the other businesses in addition to led the development on the Hansa Konsul. In February 1937, there came the brand-new 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 organizations he had acquired over time to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business at a time of austerity and rationing. For many purposes the lenders would be run like a single entity, but in a business operated by a man to whom delegation wouldn't come naturally the proliferation of legal entities on the other hand added unhelpful layers of complexity over the 1950s and encouraged a broadening of the range which in the end proved financially unsustainable while using sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.Among the top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's most popular model and remained in production with the life of the company. In 1960 the Borgward P100 ended up being introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers in the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that is also used by several F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such seeing that air suspension and intelligent transmission, the company had trouble competing in the marketplace. While larger companies like Opel and VW took selling point of economies of scale in addition to kept their prices low to realize market share, Borgward's cost structure was even higher than necessary for its size, as it basically managed as four tiny independent companies and never implemented such basic cost reduction strategies as joint development and parts sharing between the company's makes. Borgward suffered quality problems also. The Lloyd Arabella was technically advanced being a water-cooled boxer with top wheel drive, but plagued with problems including water leakage and gearbox snags. Lloyd lost money on the car just about the most was more expensive in comparison with its direct competitors.In 1961, the company was compelled into liquidation by creditors. Carl Borgward died within July 1963, still insisting the company ended up technically solvent. This proved to be true from the sense that after this creditors were paid 100 %, there was still several. 5 million Marks left over from the business.
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Reviews of difficulties at Borgward surfaced within an article that appeared with Germany's leading news journal, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repeated Spiegel article was highlighted by using a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly critical of Carl Borgward's small business approach, and included many of the arguments later advanced to go into detail or justify the corporation's demise. The widest range connected with cars from any producer in Germany, produced by three until eventually recently operationally autonomous corporations (Borgward, Goliath and Lloyd) was supporting a turnover associated with only 650 million Scars, placing the overall sales value from your combined Borgward auto businesses only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation involving new and modified versions featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") gave rise to components which too often did not work, broke down or fell into apart, resulting in massive expenses for pre-delivery remediation and/or article delivery warranty work that found their made use of to the company.The December 1960 Spiegel article was not the only serious open criticism targeting Borgward presently: suddenly stridently negative (in the event more succinct) comments also turned up in the influential mass-market Bild newspapers and in television accounts. Critical media commentaries also appeared concerning large loans to the Borgward Group provided with the local Landesbank.It is apparent how the business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses like auto manufacturing use their own expensive machines and tools most efficiently whenever they use them constantly on full capacity, but the car market in Europe within the 1950s/60s was more seasonal 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 strategies, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that on the 15, 000 Borgward cars ordered by the North American dealers with 1960 (and with the 12, 000 delivered to all of them) 6, 000 might have for being taken back following a slump in United states demand. (Borgward was not really the only European auto maker hit by way of North American slump widely used for imported cars throughout 1960. In the same season two ships carrying Renault Dauphines were turned the government financial aid mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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At the end of December 1960 Borgward approached your banker for a further a single million Marks of credit history, the loan to be backed by way of a guarantee from the Bremen local government which initially the Bremen senators decided provide. However, following the flood involving critical press comment the senators withdrew their ensure. They now required Carl Borgward to pledge the company 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 the actual senate’s terms on some February 1961, thereby averting the bankruptcy of the business.The Bremen Senate furthermore insisted on appointing its own nominee as chairman on the company’s supervisory board. The man they decided to go with was Johannes Semler who reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated directly into English, does less than full justice for the breadth of Semler’s career. He had studied legislations at university and worked initially as being a lawyer. The scion of a top Hamburg political family, in 1945 he had himself been a founding person in the centre-right CSU bash, and was a person in the Bundestag between 1950 and 1953. Despite his Hamburg origins, Semler was by on this occasion based in Munich, with a network of contacts inside the Bavarian establishment that possibly included fellow CSU politician as well as the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position in the Bizone. The appointment of Johannes Semler because representative of the Bremen senators for you to chair the Borgward supervisory mother board would, in retrospect, contribute to the controversy that followed the Borgward personal bankruptcy.
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Upon 28 July 1961 Semler, as Chairman of your 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 just a court sanctioned scheme of arrangement enabling the business to continue to trade while as well protecting the interests associated with creditors. [16] Two months later on, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of their own, never had any goal of allowing the Borgward auto-businesses to survive.
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