Corporate history

Corporate history

Marcus-Nau - Producer of money counting machines

Marcus Nau
Managing Director Procoin GmbH

More than 20 years of experience with money counting machines

The origins of our company go all the way back to the year 1924 with the foundation of Standardwerk Eugen Reis GmbH (as the former parent company of Procoin GmbH).  Not only was Eugen Reis a pioneer for money counting machines, he also was the inventor of the coin wrapping machine. By the 1990s, the company had become one of the market leaders for money counting machines in Germany.

Legendary inventions and successful products

In the year 1998 the company Procoin was founded by Hans Wrieden and his partner Dr. Karl Rumbach. We focused our activities on OEM production for well-known brands. At the same time, we also continued to work on the development of our own series of banknote counters and coin counting machines. Finally, in 2003 we presented the first product line of the company under the Procoin brand at CEBIT. A year later, we succeeded in developing an exceptional invention: Euromag® – the only recognition system to be certified by the Centralbanks over a period of ten years.

In 2003/2004, the Reis Group was sold to the Japanese Glory Group. At the same time the company is renamed to Procoin GmbH and formed as a separate legal entity that became independent of the former parent company. The production facilities were certified according to ISO 9001. The Procoin brand developed to become a well-known manufacturer of high-quality coin and banknote counting machines. The Coinsure® counterfeit money identification test was deployed starting from 2005. All devices with it have been certified by the ECB/ETSC since 2008.

Expansion of international activities

The growth of the company and its increasingly international orientation required the relocation to new offices in Frankfurt during 2006/2007. Procoin UK Ltd. was founded in the UK. The new ProDeposit-L coin deposit system was presented at the CEBIT trade fair. The fusion with Cashwork, the German importer and wholesaler of Procoin money counting machines lead to a reorganisation in 2008. In the meanwhile, the sales network extends to over 50 countries.

Since 2010 Procoin has been the main partner of Deutscher Genossenschafts-Verlag eG for money counting machines. In 2013, Procoin received the best rating for risk category I (Creditreform Rating AG: AAA-BBB, Deutsche Bank: iAAA-iBBB, Standard & Poor’s: AAA-BBB). We have been the main partner of SEG, the purchasing organisation of German savings banks serving over 10,000 savings bank branches throughout the country, on the topic of cash handling since 2014.

In June 2017 G+D Currency Technology, the market leader in the areas of cash as well as banknote processing acquires Procoin. By bringing together Procoin’s technically advanced product range with G+D Currency Technology’s strong global presence we can offer an outstanding support to our customers at every point in the cash cycle.

In september 2017 we moved to Langen, south of Frankfurt am Main into modern premises with significantly more space. Here you will find our office rooms, workshops, support, product development and warehouse – everything united under one single roof.

New, high-quality Procoin money counting machines have been developed continuously from the beginnings of the company until this very day. Yet one thing has always remained unchanged over the years: excellent quality of products at the most reasonable price.

Milestones

1924
Foundation of “Standardwerke Eugen Reis ” in Bruchsal.

1998
Procoin is founded as subsidary of Reis Eurosystems AG.

2003 / 2004
Kickoff for the distribution
of in-house products while OEM production is continued.

2007
Move to a new company site in Frankfurt.
Foundation of “Procoin UK Ltd. to cover the british market.

2008
Merging with Cashwork e.K. Marcus Nau takes over the operational management.

2009
Expansion of company site and number of staff.

2010
Key partner of Deutscher Genossenschafts-Verlags eG
for cash handling products.

2014
Procoin becomes a key partner of SEG Sparkassen-Einkaufsgemeinschaft.

2015
Additional market leaderships with Cashwork products in further markets.
Introduction of ProNote1.5 banknote counters (different variants, *successfully tested).

2016
Introduction of Coin300 coin counter and coin sorting machine (different variants, *successfully tested).

2017
G+D Currency Technology acquires Procoin. Move into new premises in Langen near Frankfurt.