A splindle moulder is a stationary machine that takes large cutters, that produce results similar to that of a router mounted in a router table. The large diameter means the bit spins a lot slower than a router bit, however the outside diameter is going to be close to that of a router bit. Generally used in production work, the blades are interchangeable and can easily be sharpened.
Cutters are usually paired with limiters, to reduce the chance of kickback. This cutter can be used to plane a straight edge or create a rebate.
Cutters and limiters are sold separately.