Borgward is surely an automobile manufacturer originally launched by Carl F. W. Borgward. The original company, based in Bremen in Germany, ceased operations in the 1960s. The Borgward group created four brands of autos: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grand son, Christian Borgward, together with his companion Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the corporation's first new car throughout over 40 years, the BX7 at the 2015 International Motor Show.The origins of Bremen's most significant auto-business go back to 1905 with the place in nearby Varel from the "Hansa Automobilgesellschaft" and the building blocks in Bremen itself regarding "Namag", maker of the Lloyd vehicle. These two businesses merged in 1914 to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial situation then confronting Germany, the business failed to prosper and because of the late 1920s faced personal bankruptcy. For Carl Borgward, already the successful creator with the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the particular scope of his car business, and he took control of the usb ports.
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The 1st "automobile" Carl Borgward created was the 1924 Blitzkarren (lightning cart), a sort of very small three-wheeled van with 3 hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget ordered for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the director of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Corp. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the nevertheless three wheeler timber presented synthetic leather bodied 5 as well as 7 hp Goliath Pioneer. Borgward turned his focus on the other businesses and also led the development from the Hansa Konsul. In February 1937, there came the fresh Hansa Borgward 2000 and also in 1939 the brand was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that continued to be in production until 1942.After World War II, in 1946 Carl Borgward used many of the brand names from businesses he had acquired over the years to found three independent companies: Borgward, Goliath and Lloyd. This was intended to increase the number of steel allocated to his business at the same time of austerity and rationing. For many purposes the businesses would be run as a single entity, but in a business operated with a man to whom delegation did not come naturally the proliferation of legal entities however added unhelpful layers of complexity with the 1950s and encouraged a broadening on the range which in the end proved financially unsustainable while using sales volumes achievable. In 1949 company presented the Borgward Hansa 1500.On the list of top engineers at Borgward by 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 your life of the company. In 1960 the Borgward P100 seemed to be introduced, equipped with pneumatic suspension.Borgward introduced a brand of 1500 cc sports racers from the late 1950s, with the 16-valve engine from these becoming a successful Formula Two power unit (which was also used by many F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such as air suspension and programmed transmission, the company had trouble competing out there. While larger companies similar to Opel and VW took advantage of economies of scale in addition to kept their prices low to achieve market share, Borgward's cost structure was even more than necessary for its sizing, as it basically handled as four tiny independent companies and never implemented such basic cost reduction strategies as articulation development and parts sharing between your 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 such as water leakage and gearbox mistakes. Lloyd lost money on the car even though it was more expensive compared to its direct competitors.In 1961, the company was pushed into liquidation by collectors. Carl Borgward died inside July 1963, still insisting the company have been technically solvent. This proved to be true in the sense that after your creditors were paid entirely, there was still 4. 5 million Marks left over from the business.
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Reports of difficulties at Borgward surfaced within an article that appeared with Germany's leading news newspaper, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s entry cover. It was strongly critical of Carl Borgward's company approach, and included many in the arguments later advanced to spell out or justify the firm's demise. The widest range regarding cars from any company in Germany, produced by three till recently operationally autonomous firms (Borgward, Goliath and Lloyd) ended up being supporting a turnover involving only 650 million Marks, placing the overall sales value on the 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 associated with new and modified models featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") gave rise to components which many times did not work, broke down or droped apart, resulting in massive costs for pre-delivery remediation and/or article delivery warranty work that found their sources that are to the company.The December 1960 Spiegel article wasn't the only serious open criticism targeting Borgward at this time: suddenly stridently negative (when 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 to the Borgward Group provided by the local Landesbank.It is apparent the business was confronting cash-flow difficulties right at the end of 1960. Capital intensive businesses like auto manufacturing use their expensive machines and tools most efficiently whenever they use them constantly on full capacity, but the car market in Europe in the 1950s/60s was more seasons than today, with sales diminishing inside Winter, then peaking in the first summer months: Borgward’s inventory of unsold cars right at the end of 1960 was beyond usual, reflecting ambitious growth ideas, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered with the North American dealers in 1960 (and in the 12, 000 delivered to these people) 6, 000 might have being taken back following a slump in American demand. (Borgward was not the one European auto maker hit with a North American slump popular for imported cars in the course of 1960. In the same yr two ships carrying Renault Dauphines were turned back 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 financial institution for a further just one million Marks of credit, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators agreed to provide. However, following the flood associated with critical press comment the particular senators withdrew their promise. 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 the particular senate’s terms on several February 1961, thereby averting the bankruptcy in the business.The Bremen Senate also insisted on appointing its nominee as chairman of the company’s supervisory board. The man they decided to go with was Johannes Semler whom reports generally describe as a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice to the breadth of Semler’s career. He had studied law at university and worked initially like 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 party, and was a member of the Bundestag between 1950 in addition to 1953. Despite his Hamburg origins, Semler was by now based in Munich, with a network of contacts within 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 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 board would, in retrospect, contribute to the hot debate that followed the Borgward a bankruptcy proceeding.
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With 28 July 1961 Semler, as Chairman of the supervisory board joined the directors from the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided for just a court sanctioned scheme of arrangement enabling this company to continue to trade while concurrently protecting the interests involving creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November with the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of their own, never had any intention of allowing the Borgward auto-businesses for you to survive.
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