What is a rotary transfer machine?

Bar-fed rotary transfer machines combine multiple cutting stations around the periphery of a round, indexing table. (These tables are commonly oriented horizontally, but “trunnion-style” versions in which the table is oriented vertically are also available.) Fixured or collet-held workpiece blanks arranged around the table are indexed from one machining station to the next until all operations are completed. (Some stations are used to invert the workpiece to enable back-side machining at subsequent stations.) A finished part(s) is ejected with every index of the table. (Source: Variations on the Rotary Transfer Theme )