Hi, ThomasP,
I was born in 1953 myself and I'm from the Ruhr area (Essen, to be precise), and I don't think my understanding of German would differ much from that of your friend. Simply said, "Presse" translates as "press" in all its meanings, and what does a press do? Why, apply pressure, of course. So, "Presser", taken as a noun, not a verb, is most likely something that generates pressure. As I said, before the Third Reich, this device would most likely have been called "Luftkompressor".