Borgward is usually an automobile manufacturer originally set up by Carl F. W. Borgward. The original company, based in Bremen within Germany, ceased operations in the particular 1960s. The Borgward group generated four brands of cars and trucks: Borgward, Hansa, Goliath and Lloyd.The marque has due to the fact been revived by Carl Borgward's grandson, Christian Borgward, together with his associate Karlheinz L. Knöss, with assistance from Far east investment, and unveiled the business's first new car inside over 40 years, the BX7 at the actual 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 regarding "Namag", maker of the Lloyd auto. These two businesses merged in 1914 in order 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 with the late 1920s faced bankruptcy. For Carl Borgward, already the successful creator on the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented the possibility greatly to expand the particular scope of his auto business, and he took control of computer.
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The first "automobile" Carl Borgward intended was the 1924 Blitzkarren (super cart), a sort of very small three-wheeled van with two hp (1. 5 kW), which was an enormous success available in the market gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered many for postal service.In 1929, Borgward became the overseer of Hansa Lloyd AG having been able to merge his "Goliath-Werke Borgward & Corp. " 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 Master. Borgward turned his focus on the other businesses as well as led the development on the Hansa Konsul. In February 1937, there came the new Hansa Borgward 2000 along with in 1939 the label was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that remained 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 the years to found three individual companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business at any given time of austerity and rationing. For many purposes the companies would be run like a single entity, but in a business operated by the man to whom delegation wouldn't come naturally the expansion of legal entities even so added unhelpful layers of complexity from the 1950s and encouraged a broadening from the range which finally proved financially unsustainable while using the sales volumes achievable. In 1949 company offered the Borgward Hansa 1500.Among the top engineers at Borgward from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella begun in 1954. The Isabella would become Borgward's hottest 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 brand of 1500 cc sports racers inside the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (which was also used by a number of F1 privateers in 1961).Although Borgward pioneered technical novelties in the German market such while air suspension and intelligent transmission, the company had trouble competing available on the market. While larger companies similar to Opel and VW took benefit of economies of scale and also kept their prices low to get market share, Borgward's cost structure was even beyond necessary for its size, as it basically run as four tiny independent companies and do not implemented such basic price tag reduction strategies as shared development and parts sharing relating to the company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced being a water-cooled boxer with top wheel drive, but plagued with problems for instance water leakage and gearbox glitches. Lloyd lost money on the car although it was more expensive than its direct competitors.In 1961, the company was pushed into liquidation by credit card companies. Carl Borgward died with July 1963, still insisting the company ended up technically solvent. This proved to be true in the sense that after this creditors were paid 100 %, there was still several. 5 million Marks remaining from the business.
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Accounts of difficulties at Borgward surfaced within an article that appeared inside Germany's leading news mag, “Der Spiegel” on 15 December 1960”. The very long, detailed, and in places repetitive Spiegel article was highlighted by means of a picture of Borgward, cigar in mouth, on the magazine’s the front cover. It was strongly crucial of Carl Borgward's small business approach, and included many in the arguments later advanced to explain or justify the company's demise. The widest range associated with cars from any supplier in Germany, produced by three until recently operationally autonomous corporations (Borgward, Goliath and Lloyd) has been supporting a turnover associated with only 650 million Represents, placing the overall sales value in the combined Borgward auto firms only in fifth location among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence with an increasingly manic proliferation associated with new and modified versions featuring adventurous, but under-developed technological inventions ("fast manisch[e] Konstruierwut") afforded 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 post delivery warranty work that found their long ago to the company.The December 1960 Spiegel article had not been the only serious public criticism targeting Borgward at the moment: suddenly stridently negative (when more succinct) comments also resulted in in the influential mass-market Bild paper and in television accounts. Critical media commentaries additionally appeared concerning large loans for the Borgward Group provided from the local Landesbank.It is apparent how the business was confronting cash-flow difficulties by the end of 1960. Capital intensive businesses like auto manufacturing use their expensive machines and tools most efficiently should they use them constantly on full capacity, but the car market in Europe inside the 1950s/60s was more seasonal than today, with sales diminishing with Winter, then peaking in their early summer months: Borgward’s inventory of unsold cars at the end of 1960 was beyond usual, reflecting ambitious growth options, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that with the 15, 000 Borgward cars ordered through the North American dealers with 1960 (and from the 12, 000 delivered to these people) 6, 000 might have to be taken back following a slump in American demand. (Borgward was not really the only European auto maker hit by way of North American slump popular for imported cars through 1960. In the same 12 months two ships carrying Renault Dauphines were turned last mid-Atlantic because the docks in Nyc were overcrowded with unsold Dauphines.
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At the conclusion of December 1960 Borgward approached the lending company for a further 1 million Marks of credit history, the loan to be backed by the guarantee from the Bremen regional government which initially the Bremen senators consented to provide. However, following the flood connected with critical press comment this senators withdrew their promise. 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 inside a still hostile media, Borgward agreed to the actual senate’s terms on four February 1961, thereby averting the bankruptcy of the business.The Bremen Senate furthermore insisted on appointing its own nominee as chairman with the company’s supervisory board. The man they selected was Johannes Semler which reports generally describe as being a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice to the breadth of Semler’s job. He had studied legislations 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 person in the centre-right CSU gathering, and was a person in the Bundestag between 1950 in addition to 1953. Despite his Hamburg beginning, Semler was by these times based in Munich, with a network of contacts in the 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 the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators for you to chair the Borgward supervisory board would, in retrospect, contribute to the debate that followed the Borgward a bankruptcy proceeding.
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On 28 July 1961 Semler, as Chairman of your 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 for a court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while simultaneously protecting the interests connected with creditors. [16] Two months afterwards, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November by the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of his very own, never had any objective of allowing the Borgward auto-businesses in order to survive.
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