Founded in in 1883 as a "tool forge" by Theodor Keil in Glauchau ( 60 km south of Leipzig) Deutsche Maschinen Leipzig later it became known as "Deutsche Maschinen- und Werkzeugfabrik".  If this was, indeed, one and the same company, then it might have stopped operating under that name in 1909 and merged with "Wotan-Werke AG" in Leipzig to form "Wotan-Werke AG Werkzeugmaschinenbau Leipzig-Chemnitz-Glauchau"  Following this trail, in the following years several names appear to have been used including  "Düsseldorf, machine tool factory Düsseldorf-Leipzig-Berlin-Chemnitz-Glauchau" - Chemnitz being a town famous for the manufacture of machine tools. The production of grinding machines in Glauchau began as early as 1928 with the company's headquarters relocated to Glauchau in 1938. By 1943, over 100,000 machine tools and grinding machines had been delivered in Germany and other European countries and North America.
After the end of the Second World War, large parts of the production technology had to be delivered to the Soviet Union as reparations, but the factory remained in the newly-formed commuist-controlled GDR as "Wotan- und Zimmermannwerke AG". 
The Wikipedia article, in German states, 1883 beginnt die Historie des Maschinenbau-Unternehmens mit der Gründung als Zeugschmiederei durch Theodor Keil in Glauchau. Später als "Deutsche Maschinen- und Werkzeugfabrik" bekannt, schloss sie sich mit der "Wotan-Werke AG" in Leipzig zusammen zur "Wotan-Werke AG Werkzeugmaschinenbau Leipzig-Chemnitz-Glauchau" und fusionierte 1929 zur "Wotan- und Zimmermann-Werke AG Düsseldorf, Werkzeugmaschinenfabrik Düsseldorf-Leipzig-Berlin-Chemnitz-Glauchau". Bereits 1928 begann die Produktion von Schleifmaschinen in Glauchau. Der Sitz des Konzerns wurde durch Beschluss der Hauptversammlung am 7. Mai 1938 nach Glauchau verlegt. Das Unternehmen entwickelte sich schnell zu einem führenden Werkzeugmaschinenhersteller. Bis 1943 wurden über 100.000 Werkzeugmaschinen bzw. Schleifmaschinen in Deutschland, aber auch in das europäische Ausland und nach Nordamerika ausgeliefert.
Nach Ende des Zweiten Weltkrieges mussten große Teile der Produktionstechnik als Reparationsleistung an die Sowjetunion geliefert werden, die Fabrik blieb jedoch in der jungen DDR als „Wotan- und Zimmermannwerke AG" erhalten. Mit Gründung der
The lathe below appears to be from the Company's early years and would have been made circa 1885 to 1900. With a centre height of perhaps 100 mm and taking 300 mm or so between centres, the lathe is of absolutely conventional arrangement for the time. Pointers to its antiquity include the outboard mounting on posts of the spindle thrust bearing, rather coarse-pitch backgears, awkward-to-use crank handles fitted to the slide-rest feed screws, a lack of micrometer dials and a pair of cast-in supports on the back of the bed to hold a wooden tool tray. Sharing one particularly awkward feature of many 19th century lathes was the crude arrangement provided for moving the saddle by hand. This consisted of a bed-mounted rack, engaged directly by a gear connected to the large crank handle - the practical effect being that a small turn of the crank moved the cutting tool a disproportionately long way. Even so, for a relatively small lathe of the time, the lathe does enjoy a spring-loaded selector for the tumble-reverse drive to the leadscrew, a gap bed, power cross feed (a button selector can be seen on the face of the apron) a proper compound slide rest assembly and a generally robust build. The faceplate fitted is of the once-popular type that doubled as a light-duty, independent 4-jaw chuck with, in this case, what would have been when new, screw-controlled sliding jaws..