Borgward is an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in your 1960s. The Borgward group produced four brands of cars: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grandson, Christian Borgward, together with his spouse Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the company's first new car with over 40 years, the BX7 at this 2015 International Motor Demonstrate.The origins of Bremen's most significant auto-business resume 1905 with the institution in nearby Varel on the "Hansa Automobilgesellschaft" and the walls in Bremen itself associated with "Namag", maker of the Lloyd auto. 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 with the late 1920s faced individual bankruptcy. For Carl Borgward, already the successful creator in the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a possibility greatly to expand the scope of his auto business, and he took control of the usb ports.
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The first "automobile" Carl Borgward developed was the 1924 Blitzkarren (turbo cart), a sort of little three-wheeled van with 3 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 some of them for postal service.In 1929, Borgward became the home of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had can't evolved into the nevertheless three wheeler timber presented synthetic leather bodied 5 or 7 hp Goliath Pioneer. Borgward turned his care about the other businesses as well as led the development in the Hansa Konsul. In February 1937, there came the brand-new Hansa Borgward 2000 and in 1939 the title was shortened to Borgward 2000. The 2000 model was then the Borgward 2300that continued in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from companies he had acquired over time to found three independent 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 companies would be run being a single entity, but in a business operated by way of a man to whom delegation wouldn't come naturally the expansion of legal entities nonetheless added unhelpful layers of complexity through the 1950s and encouraged a broadening of the range which ultimately proved financially unsustainable using the sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.One of many top engineers at Borgward from 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 to the life of the business. In 1960 the Borgward P100 was introduced, equipped with pneumatic suspension.Borgward introduced a distinct 1500 cc sports racers inside late 1950s, with the 16-valve engine from these being a successful Formula Two power unit (that was also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such because air suspension and intelligent transmission, the company had trouble competing available on the market. While larger companies like Opel and VW took good thing about economies of scale and kept their prices low to find market share, Borgward's cost structure was even more than necessary for its sizing, as it basically controlled as four tiny independent companies and don't implemented such basic expense reduction strategies as joint development and parts sharing between the company's makes. Borgward suffered quality problems too. The Lloyd Arabella was technically advanced as a water-cooled boxer with top wheel drive, but plagued with problems for example water leakage and gearbox errors. Lloyd lost money on the car just about the most was more expensive than its direct competitors.In 1961, the company was pushed into liquidation by credit card companies. Carl Borgward died inside July 1963, still insisting the company were being technically solvent. This proved to be true inside the sense that after the particular creditors were paid fully, there was still several. 5 million Marks remaining from the business.
Stories of difficulties at Borgward surfaced within an article that appeared with Germany's leading news publication, “Der Spiegel” on fourteen December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted through a picture of Borgward, cigar in mouth, on the magazine’s top cover. It was strongly critical of Carl Borgward's enterprise approach, and included many from the arguments later advanced to go into detail or justify the businesses demise. The widest range associated with cars from any maker in Germany, produced by three until eventually recently operationally autonomous corporations (Borgward, Goliath and Lloyd) has been supporting a turnover regarding only 650 million Scars, placing the overall sales value through the combined Borgward auto firms only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation of new and modified designs featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") presented rise to components which all too often 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 long ago to the company.The December 1960 Spiegel article has not been the only serious public criticism targeting Borgward currently: suddenly stridently negative (if more succinct) comments also turned up in the influential mass-market Bild magazine and in television studies. Critical media commentaries in addition appeared concerning large loans on the Borgward Group provided by the local Landesbank.It is apparent the business was confronting cash-flow difficulties at the conclusion of 1960. Capital intensive businesses including auto manufacturing use their particular expensive machines and tools most efficiently as long as they use them constantly from full capacity, but the car market in Europe in 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 beyond usual, reflecting ambitious growth programs, most obviously in respect of north america market[11] The December 1960 Spiegel article speculated that in the 15, 000 Borgward cars ordered because of the North American dealers throughout 1960 (and in the 12, 000 delivered to these people) 6, 000 might have to become taken back following a slump in North american demand. (Borgward was not really the only European auto maker hit by the North American slump widely used for imported cars through 1960. In the same calendar year two ships carrying Renault Dauphines were turned back in mid-Atlantic because the docks in Ny were overcrowded with unsold Dauphines.
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Right at the end of December 1960 Borgward approached the financial institution for a further one particular million Marks of credit score, the loan to be backed by way of guarantee from the Bremen local government which initially the Bremen senators agreed to provide. However, following the flood associated with critical press comment the senators withdrew their guarantee. They now required Carl Borgward to pledge this company 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 5 February 1961, thereby averting the bankruptcy from the business.The Bremen Senate additionally insisted on appointing its own nominee as chairman on the company’s supervisory board. The man they chose was Johannes Semler to whom reports generally describe being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated in to English, does less than full justice for the breadth of Semler’s occupation. He had studied legislations at university and worked initially like a lawyer. The scion of a respected Hamburg political family, in 1945 he experienced himself been a founding member of the centre-right CSU party, and was a person in the Bundestag between 1950 as well as 1953. Despite his Hamburg origins, Semler was by this time around based in Munich, with a network of contacts from the Bavarian establishment that almost certainly included fellow CSU politician and also the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler inside a top administrative position from the Bizone. The appointment of Johannes Semler for the reason that representative of the Bremen senators for you to chair the Borgward supervisory table would, in retrospect, contribute to the hot debate that followed the Borgward personal bankruptcy.
On 28 July 1961 Semler, as Chairman of this supervisory board joined the directors on the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided for a court sanctioned scheme of arrangement enabling the organization to continue to trade while at the same time protecting the interests regarding creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath corporations were declared bankrupt, followed in November from the Lloyd business. Subsequent “conspiracy theorists” have got suggested that Semler, for reasons of their own, never had any goal of allowing the Borgward auto-businesses to help survive.
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