and that, my friends, is why some languages will never run out of words
FYI: it is a noun, and it means "the key ring holding the front door key belonging to the maid who works for the lawyer who presents cases before the supreme court"
a purer instance is the classic: Vaðlaheiðavegamálaverkfærageymsluskúr
which is the "hut with the tools belonging to the department of transport on 'Vaðlaheiði'" which is a mountain east of Akureyri.
Hut really is there; or used to be when I was a kid.