A town name Glashutte or in English meaning glassworks. Glashutte is a town which was formerly in East Germany. It stands for, in German, VEB Glashütter Uhrenbetriebe (GUB), it was a company owned by State of German Democratic Republic, or East Germany.
Now famous with watchmaking where big names are there. Now GUB Glashutte does not exist anymore, the company now is known as Glashutte Original. Save some money to buy their watches !.
About the watch : Size is 32mm across, 18mm lugs, 20 Micron case, manual winding, 17 jewels, 18,000 BPH, working good, with very old and vintage look, patinas are everywhere and a piece of history. Caliber 70.1 was made sometime between 1960 - 1971.