But I couldn't find the word in my Duden and hence is the question whether it is correct or not.
@Alexander_Galkin in a comment
It is one of the outstanding traits of the german language to come up with composite words on the fly which are still understood by anybody. German has perhaps the smallest vocabulary compared to closely related languages (English, French, Italian, etc..) because of this ability. There is, for instance, no genuine word for "towel" because of the composite "Handtuch".
Many of these composite words are not in any dictionary, but their meaning is clear (to native speakers at least) nonetheless. You will most probably not find "Bowlingkugeltasche" in any dictionary but sure enough every native speaker here understands that it is a bag specifically formed to fit a bowling ball and carry it around.
How these compounds are formed and understood is an intricate process and i fear it is nearly impossible to cover all these intricacies by rules. In German there is a joke giving an ironical commentary about managerial prowess (or rather lack thereof):
Wenn ein Abteilungsleiter die Abteilung leitet, dann faltet ein Zitronenfalter Zitronen.If a department manager manages the department then the common brimstone (Gonepteryx rhamni, a butterfly) folds lemons.
But then, in English you have:
If a train station is where the train stops a workstation is where the work stops.
which works in an identical way.