How to create a package for web application with components that shared with other applications?

Create a setup project which produces a .msi file.
A shared component assembly must be given a strong name using the following steps:
1. Create a key pair using sn.exe -k on the command line
2. Add AssemblyKeyFileAttribute to the assembly file and set it to the full name and path of the key file generated in step 1.
3. Build the assembly
The setup program detects a strong named assembly and installs it into GAC on the client machine.