A Brief History of the Marque
Manufactured by Walter Postler, Niedersedlitz (Sachsen), 1920-1924
Postler was a well-known car racer (Bugatti T35A, T35B) whose small firm built a scooter (Motorläufer) with a 252cc IOE engine positioned behind the front forks, and in 1924 built machines with a 246cc OHV engine of his own design.
Postler's first name is spelled "Walther" in an advertisment of the day, but is invariably referred to in the texts as "Walter".
Sources: GTU Oldtimerservice; Tragatsch p251.