Borgward is an automobile manufacturer originally started by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in your 1960s. The Borgward group made four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has considering that been revived by Carl Borgward's grandson, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Oriental investment, and unveiled the business's first new car within over 40 years, the BX7 at the 2015 International Motor Show.The origins of Bremen's most significant auto-business resume 1905 with the institution in nearby Varel from the "Hansa Automobilgesellschaft" and the muse in Bremen itself associated with "Namag", maker of the Lloyd car or truck. These two businesses merged in 1914 in order to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled economy then confronting Germany, the business failed to prosper and from the late 1920s faced chapter 7. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the opportunity greatly to expand the scope of his automobile business, and he took control than it.
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The first "automobile" Carl Borgward created 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 in the market gap it filled. Traders with a small budget bought it for delivery. The Reichspost ordered quite a few for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having had the opportunity to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the nonetheless three wheeler timber presented synthetic leather bodied 5 as well as 7 hp Goliath Founder. Borgward turned his attention to the other businesses and also led the development from the Hansa Konsul. In February 1937, there came the completely new Hansa Borgward 2000 as well as in 1939 the brand 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 firms he had acquired in the past to found three different companies: Borgward, Goliath and Lloyd. This was intended to increase the quantity of steel allocated to his business during a period of austerity and rationing. For many purposes the businesses would be run like a single entity, but in a business operated by the man to whom delegation didn't come naturally the expansion of legal entities nonetheless added unhelpful layers of complexity from 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.One of many top engineers at Borgward by 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella began in 1954. The Isabella would become Borgward's most in-demand model and remained in production for that life of the corporation. In 1960 the Borgward P100 ended up being 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 transforming into a successful Formula Two power unit (which was also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such because air suspension and automated transmission, the company had trouble competing in the market. While larger companies like Opel and VW took benefit of economies of scale and also kept their prices low to gain market share, Borgward's cost structure was even greater than necessary for its sizing, as it basically managed as four tiny independent companies rather than implemented such basic price reduction strategies as joint development and parts sharing between the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced to be a water-cooled boxer with top wheel drive, but plagued with problems for example water leakage and gearbox snags. Lloyd lost money on the car though it was more expensive when compared with its direct competitors.In 1961, the company was compelled into liquidation by lenders. Carl Borgward died inside July 1963, still insisting the company was technically solvent. This proved to be true within the sense that after the creditors were paid fully, there was still some. 5 million Marks left from the business.
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Reports of difficulties at Borgward surfaced in the article that appeared in Germany's leading news mag, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places repeating 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 business approach, and included many with the arguments later advanced to describe or justify the corporation's demise. The widest range regarding cars from any company in Germany, produced by three until eventually recently operationally autonomous firms (Borgward, Goliath and Lloyd) seemed to be supporting a turnover regarding only 650 million Marks, placing the overall sales value from the combined Borgward auto businesses only in fifth position among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation of new and modified versions featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") gave rise to components which too much did not work, broke down or chop down apart, resulting in massive bills for pre-delivery remediation and/or write-up delivery warranty work that found their way back to the company.The December 1960 Spiegel article has not been the only serious open public criticism targeting Borgward currently: suddenly stridently negative (if more succinct) comments also resulted in in the influential mass-market Bild newspapers and in television reports. Critical media commentaries furthermore appeared concerning large loans towards the Borgward Group provided through the local Landesbank.It is apparent that this business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses for instance auto manufacturing use their 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 temporary than today, with sales diminishing inside 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 usa market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered through the North American dealers with 1960 (and from the 12, 000 delivered to these individuals) 6, 000 might have for being taken back following a slump in American demand. (Borgward was not the only real European auto maker hit by a North American slump successful for imported cars throughout 1960. In the same 12 months two ships carrying Renault Dauphines were turned back 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 the lender for a further one million Marks of credit history, the loan to be backed by the guarantee from the Bremen local government which initially the Bremen senators agreed to provide. However, following the flood regarding critical press comment your senators withdrew their assure. 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 within a still hostile media, Borgward agreed to the senate’s terms on 5 February 1961, thereby averting the bankruptcy from the business.The Bremen Senate furthermore insisted on appointing a nominee as chairman from the company’s supervisory board. The man they select was Johannes Semler which reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice on the breadth of Semler’s occupation. He had studied law at university and worked initially to be a lawyer. The scion of a top Hamburg political family, in 1945 he acquired himself been a founding member of the centre-right CSU bash, and was a member of the Bundestag between 1950 and also 1953. Despite his Hamburg beginning, Semler was by on this occasion based in Munich, with a network of contacts inside Bavarian establishment that likely included fellow CSU politician along with the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a very top administrative position inside Bizone. The appointment of Johannes Semler since the representative of the Bremen senators to help chair the Borgward supervisory board would, in retrospect, contribute to the debate that followed the Borgward a bankruptcy proceeding.
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In 28 July 1961 Semler, as Chairman of this supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings to the establishment of a “Vergleichsverfahren”, which would have provided to get a court sanctioned scheme of arrangement enabling the business to continue to trade while while doing so protecting the interests connected with creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath organizations were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” include suggested that Semler, for reasons of his or her own, never had any intention of allowing the Borgward auto-businesses to help survive.
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