Word: borsig
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Dates: during 1930-1939
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Died. Ernst von Borsig, 63, famed German locomotive & machinery tycoon, senior head of once potent A. Borsig. Ltd., biggest member of the Borsig group (second biggest German one-family business*), bankrupted last year and forced to accept government aid; of heart disease; on his country estate Gross Syphen Behnitz, Brandenburg...
...assets. Junkers Aircraft assets were supposed to be nearly adequate ($5,236,000 against $3,094,000 liabilities), but frozen. A Junkers unit closely allied with the aircraft company, and like it wholly owned by famed Professor Hugo Junkers. is Motorenbau which builds airplane and other engines. Borsig Co., a licensee of Motorenbau but not a Junkers enterprise, went into bankruptcy last December. Borsig was a substantial creditor of Motorenbau and its own creditors sought to collect. Hard-pressed for cash, Junkers entered into long negotiations with the hard-pressed Reich for aid. To avoid bankruptcy last week it announced...