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Turnkey refers to something that is ready for immediate use, generally used in the sale or supply of goods or services. The word is a reference to the fact that the customer, upon receiving the product, just needs to turn the ignition key to make it operational, or that the key just needs to be turned over to the customer. [4]
Jason Grenfell-Gardner, President and CEO of the Company, commented, "We are excited to partner with Juventio, and utilize our existing Novasome® technology to provide turnkey manufacturing services.
Brand name companies focus on product innovation, design and sales, while the manufacturing takes place in independent factories (the turnkey suppliers). [1] Most turnkey suppliers specialize in simply manufacturing physical products, but some are also able to handle a significant part of the design and customization process if needed.
Various abbreviations used for this type of contract are LSTK for lump sum turn key, EPIC for engineering, procurement, installation & commissioning and EPCC for engineering, procurement, construction and commissioning. Use of EPIC is common, e.g., by FIDIC and most Persian Gulf countries. Use of LSTK is common in the Kingdom of Saudi Arabia.
Services are provided in the field of engineering and turnkey projects, where the company plans and implements complete turnkey production facilities. Further services are provided by Glatt laboratories involved in product and formulation development as well as process development and optimization.
Viastore Systems sells turnkey automated intralogistics systems, warehouse management systems, material flow and process controls, shuttle systems, and automated storage and retrieval systems. On 1 July 2015, the Viastore Software GmbH was founded, an own software company that combines all activities related to the warehouse management system ...
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