A more thorough description:
A circuit board starts out as a piece of fiberglass with two or more layers of copper, finely patterned into connecting lines and "pads, places to solder parts to it. The parts are little rectangles that need to be soldered to the pads in order to build a working circuit. This machine picks the parts from their factory-supplied carriers, which look just like movie film, and places them on the pads on the circuit boards.
Before this happens, the circuit board has solder applied to it in paste form using a stencil. After the placement step, the board is carried through an oven on a conveyer belt (like a fast-food-restaurant pizza oven) to melt the solder and connect the parts to the board.
The cost of this machine is easily six figures. Maybe seven, new.