Borgward is usually an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in the actual 1960s. The Borgward group made four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's son, Christian Borgward, together with his partner Karlheinz L. Knöss, with assistance from China investment, and unveiled the corporation's first new car inside over 40 years, the BX7 at the 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business resume 1905 with the institution in nearby Varel of the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself of "Namag", maker of the Lloyd auto. These two businesses merged in 1914 to form the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial crisis then confronting Germany, the business failed to prosper and with 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 possibility greatly to expand the scope of his auto business, and he took control of it.
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The very first "automobile" Carl Borgward developed was the 1924 Blitzkarren (lightning cart), a sort of small three-wheeled van with only two hp (1. 5 kW), which was an enormous success available in the market 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 representative of Hansa Lloyd AG having gotten to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the nonetheless three wheeler timber presented synthetic leather bodied 5 or maybe 7 hp Goliath Leader. Borgward turned his awareness of the other businesses in addition to led the development with the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 as well as in 1939 the identify was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that always been in production until 1942.After World War II, in 1946 Carl Borgward used some of the brand names from corporations he had acquired in recent times to found three distinct companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business at the same time of austerity and rationing. For many purposes the companies would be run as a single entity, but in a business operated by way of man to whom delegation wouldn't come naturally the growth of legal entities nonetheless added unhelpful layers of complexity through the 1950s and encouraged a broadening in the range which finally proved financially unsustainable while using sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.On the list of top engineers at Borgward coming from 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 for the life of the firm. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a type of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that has been also used by some F1 privateers in 1961).Although Borgward pioneered technical novelties inside German market such as air suspension and computerized transmission, the company had trouble competing in the marketplace. While larger companies just like Opel and VW took advantage of economies of scale and kept their prices low to get market share, Borgward's cost structure was even above necessary for its dimension, as it basically controlled as four tiny independent companies and don't implemented such basic price reduction strategies as shared development and parts sharing involving the company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced being a water-cooled boxer with entry wheel drive, but plagued with problems including water leakage and gearbox snags. Lloyd lost money on the car although it was more expensive than its direct competitors.In 1961, the company was compelled into liquidation by loan companies. Carl Borgward died in July 1963, still insisting the company had been technically solvent. This proved to be true from the sense that after your creditors were paid fully, there was still four. 5 million Marks left over from the business.
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Stories of difficulties at Borgward surfaced within the article that appeared within Germany's leading news newspaper, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places similar Spiegel article was highlighted by way of a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly crucial of Carl Borgward's business approach, and included many on the arguments later advanced to go into detail or justify the company's demise. The widest range connected with cars from any manufacturer in Germany, produced by three until recently operationally autonomous organizations (Borgward, Goliath and Lloyd) was supporting a turnover of only 650 million Marks, placing the overall sales value in the combined Borgward auto companies only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence on an increasingly manic proliferation involving new and modified products featuring adventurous, but under-developed technological innovations ("fast manisch[e] Konstruierwut") offered rise to components which too much did not work, broke down or dropped apart, resulting in massive charges for pre-delivery remediation and/or submit delivery warranty work that found their in the past to the company.The December 1960 Spiegel article had not been the only serious general public criticism targeting Borgward currently: suddenly stridently negative (in the event that more succinct) comments also turned up in the influential mass-market Bild paper and in television stories. Critical media commentaries in addition appeared concerning large loans towards Borgward Group provided by the local Landesbank.It is apparent which the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses including auto manufacturing use their expensive machines and tools most efficiently when they use them constantly in full capacity, but the car market in Europe inside 1950s/60s was more seasonal than today, with sales diminishing in Winter, then peaking in earlier summer months: Borgward’s inventory of unsold cars by the end of 1960 was beyond usual, reflecting ambitious growth ideas, most obviously in respect of the united states market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered because of the North American dealers in 1960 (and of the 12, 000 delivered to these people) 6, 000 might have being taken back following a slump in American demand. (Borgward was not the only real European auto maker hit with a North American slump successful for imported cars while in 1960. In the same calendar year two ships carrying Renault Dauphines were turned last 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 the financial institution for a further one million Marks of credit rating, the loan to be backed by way of a guarantee from the Bremen regional government which initially the Bremen senators decided to provide. However, following the flood connected with critical press comment the particular senators withdrew their promise. 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 in a very still hostile media, Borgward agreed to your senate’s terms on four February 1961, thereby averting the bankruptcy on the business.The Bremen Senate furthermore insisted on appointing its very own nominee as chairman on the company’s supervisory board. The man they decided to go with was Johannes Semler which reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice towards the breadth of Semler’s vocation. He had studied legislations at university and worked initially as being a lawyer. The scion of a leading Hamburg political family, in 1945 he experienced himself been a founding person in the centre-right CSU celebration, and was a member of the Bundestag between 1950 as well as 1953. Despite his Hamburg sources, Semler was by now based in Munich, with a network of contacts within the Bavarian establishment that possibly included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in a top administrative position from the Bizone. The appointment of Johannes Semler as the representative of the Bremen senators to chair the Borgward supervisory panel would, in retrospect, contribute to the hot debate that followed the Borgward a bankruptcy proceeding.
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About 28 July 1961 Semler, as Chairman of the particular 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 a court sanctioned scheme of arrangement enabling the company to continue to trade while concurrently protecting the interests connected with creditors. [16] Two months later, however, in September 1961, the Borgward and Goliath companies were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” possess suggested that Semler, for reasons of his or her own, never had any objective of allowing the Borgward auto-businesses to be able to survive.
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