This is a cheaply made razor and other than the branding, is exactly the same razor and case as a Razzia.

The case is press-formed metal but unlike the Razzia, the paperwork is loose. The insert is also formed metal, with place for the top, the handle and some blades.
The case probably cost as much or even more to manufacture than the razor itself.

It has a totally different take on adjustablility - Simply put, its pretty much a spring loaded shim. The bottom plate is pressed with a recess in it that is designed to cater for the "spring / shim". There are no markings anywhere so precise repeatibility would be a small problem.

The Handle and base plate are made out of aluminium. I suspect that the topcap is plated zamak and the shim is spring steel. I know from past experience with the Razzia that it needs to be carefully dried and oiled after each shave to prevent rusting. Unlike my Razzia, this one has no signs of oxidation so I think that its pretty much unused.

A search online brings up one entry thread going back to 2011, with not much info. Guesstimate on that thread says pre WW11 - so somewhere in the 1930's
It has a non-standard thread. its 5mmx0.75 - so my ¾ turn probably opens it up about a half a mm.

Also see as: Razzia - Other than the different case branding, it's the identical razor and formed metal case.

How does it shave?
I haven't used it, but I would believe the same as a Razzia.
For those that don't want to click on the link - When its closed, it's mild. Opened up about ¾ of a turn, there is a fair bit of blade feel and at this "setting", it's surprisingly a very good shaver. I achieve a BBS after a 2pass plus some touch-ups.