The history section at their website is worth reading: http://www.hanhart.com/Hanhart/Geschichte.aspx

I even nicely gave you the link in English, how about that? :) Well, the link itself is actually in German but it leads to an English page! The 1924 entry is interesting ("World's first reasonably priced mechanical stopwatch"), seems a bit of a dig at the Swiss there, Heuer obviously included! Hanhart had relocated from Switzerland to Bavaria by then.

Interesting too that your timer on the left has mechanism info in English but the one on the right in German. One domestic model and one export version paired up perhaps? Love the crackle finish on the case.