Subs Factory lets you open .txt files and turn them into subtitles. The text is then split into several subtitles, and then distributed along the video. Subs Factory takes punctuation into account to split the text as naturally as possible, and the duration of each subtitle is then computed according to its word count.
This feature can be used, for example, in the case of a dictation, a long speech, and generally when text and video are not correlated...
To use this feature, you just have to use the "Open a subtitles file..." button of the "Files" palette, or the "Open file in current project..." item of the "Project" menu. Then select a text file, that is to say a file with a .txt extension. The following window should appear (once the correct encoding has been chosen, if necessary).

To split the text into subtitles, use the first option, "Spread". Choose the timings between which the subtitles should be generated: you can use markers if you have created at least two, directly enter timings, or, if a video is loaded, use the whole video length.
On the right, you can choose the spacing between two generated subtitles (in milliseconds), and also the maximum number of words in one subtitle. The final number of words can vary (while respecting this maximum), in order to follow the punctuation and avoid cutting just anywhere.
The second option, "Interpret as", lets you read a .txt file as if it were a standard .srt or .sub file (as chosen in the dropdown menu). It sometimes happens that such files have a .txt extension after or instead of the correct one.