Borgward is an automobile manufacturer originally founded by Carl F. W. Borgward. The original company, based in Bremen throughout Germany, ceased operations in the actual 1960s. The Borgward group created four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has since been revived by Carl Borgward's son, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from China investment, and unveiled the business's first new car in over 40 years, the BX7 at the 2015 International Motor Display.The origins of Bremen's most significant auto-business go back to 1905 with the establishment in nearby Varel of the "Hansa Automobilgesellschaft" and the muse in Bremen itself regarding "Namag", maker of the Lloyd automobile. These two businesses merged in 1914 to create the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and by the late 1920s faced a bankruptcy proceeding. For Carl Borgward, already the successful creator from the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the actual scope of his auto business, and he took control from it.
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The primary "automobile" Carl Borgward developed was the 1924 Blitzkarren (lightning cart), a sort of teeny three-wheeled van with two hp (1. 5 kW), which was an enormous success in the market gap it filled. Traders with a small budget got it for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the movie director of Hansa Lloyd AG having had the oppertunity to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had nowadays evolved into the however three wheeler timber presented synthetic leather bodied 5 as well as 7 hp Goliath Master. Borgward turned his awareness of the other businesses along with led the development in the Hansa Konsul. In February 1937, there came the brand-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 continued to be in production until 1942.After World War II, in 1946 Carl Borgward used a few of the brand names from firms he had acquired through the years to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase the quality of steel allocated to his business during a period of austerity and rationing. For many purposes the businesses would be run as being a single entity, but in a business operated by way of man to whom delegation would not come naturally the spreading of legal entities even so added unhelpful layers of complexity through the 1950s and encouraged a broadening on the range which in the end proved financially unsustainable while using the sales volumes achievable. In 1949 company shown the Borgward Hansa 1500.One of the top engineers at Borgward through 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's most popular model and remained in production for that life of the company. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a distinctive line 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 a number of F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such seeing that air suspension and automatic transmission, the company had trouble competing available. While larger companies such as Opel and VW took advantage of economies of scale in addition to kept their prices low to find market share, Borgward's cost structure was even higher than necessary for its size, as it basically managed as four tiny independent companies rather than implemented such basic price tag reduction strategies as mutual development and parts sharing between your company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced like a water-cooled boxer with the front wheel drive, but plagued with problems for instance water leakage and gearbox snags. Lloyd lost money on the car although it was more expensive as compared to its direct competitors.In 1961, the company was pressured into liquidation by lenders. Carl Borgward died within July 1963, still insisting the company have been technically solvent. This proved to be true inside sense that after the actual creditors were paid fully, there was still some. 5 million Marks left over from the business.
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Studies of difficulties at Borgward surfaced within the article that appeared inside Germany's leading news publication, “Der Spiegel” on age 14 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly crucial of Carl Borgward's small business approach, and included many from the arguments later advanced to go into detail or justify the corporation's demise. The widest range associated with cars from any producer in Germany, produced by three till recently operationally autonomous companies (Borgward, Goliath and Lloyd) was supporting a turnover associated with only 650 million Signifies, placing the overall sales value on the combined Borgward auto corporations only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation associated with new and modified designs featuring adventurous, but under-developed technological enhancements ("fast manisch[e] Konstruierwut") provided rise to components which all too often did not work, broke down or chop down apart, resulting in massive costs for pre-delivery remediation and/or publish delivery warranty work that found their way back to the company.The December 1960 Spiegel article was not the only serious community criticism targeting Borgward at this time: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild magazine and in television stories. Critical media commentaries additionally appeared concerning large loans on the Borgward Group provided through the local Landesbank.It is apparent that this business was confronting cash-flow difficulties towards the end of 1960. Capital intensive businesses including auto manufacturing use their expensive machines and tools most efficiently if they use them constantly with full capacity, but the car market in Europe within the 1950s/60s was more in season than today, with sales diminishing throughout 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 options, most obviously in respect of america market[11] The December 1960 Spiegel article speculated that of the 15, 000 Borgward cars ordered because of the North American dealers inside 1960 (and from the 12, 000 delivered to all of them) 6, 000 might have to become taken back following a slump in American demand. (Borgward was not the one European auto maker hit by way of a North American slump widely used for imported cars throughout 1960. In the same season two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached the lender for a further 1 million Marks of credit ratings, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators opted for provide. However, following the flood involving critical press comment the senators withdrew their guarantee. 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 within a still hostile media, Borgward agreed to this senate’s terms on several February 1961, thereby averting the bankruptcy in the business.The Bremen Senate additionally insisted on appointing its own nominee as chairman from the company’s supervisory board. The man they chose was Johannes Semler which reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice for the breadth of Semler’s vocation. He had studied rules at university and worked initially being a lawyer. The scion of a respected Hamburg political family, in 1945 he had himself been a founding member of the centre-right CSU get together, and was a person in the Bundestag between 1950 and also 1953. Despite his Hamburg sources, Semler was by these times based in Munich, with a network of contacts from the Bavarian establishment that possibly included fellow CSU politician and the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position within the Bizone. The appointment of Johannes Semler since the representative of the Bremen senators to help chair the Borgward supervisory aboard would, in retrospect, contribute to the dispute that followed the Borgward a bankruptcy proceeding.
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With 28 July 1961 Semler, as Chairman of your supervisory board joined the directors with the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided to get a court sanctioned scheme of arrangement enabling the organization to continue to trade while as well protecting the interests involving creditors. [16] Two months after, however, in September 1961, the Borgward and Goliath businesses were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” have suggested that Semler, for reasons of his or her own, never had any objective of allowing the Borgward auto-businesses to help survive.
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