IPA: /ˈsɔltˌwɜrks/
KK: /sɔltwɜrks/
A facility where salt is produced and processed for commercial use.
The saltworks near the coast supply salt to many restaurants and food manufacturers.
Saltworks → The word is formed from "salt" (from Old English *sealt*, meaning a mineral substance used for seasoning and preserving food) and "works" (from Old English *weorc*, meaning a place of labor or production). A saltworks is a place where salt is produced or processed.
Think of a place where 'salt' is produced or 'worked on' — that's what a saltworks is.