GENERAL INFORMATION
Established:  1983
Ownership:  Private
Parent:  Formula Group (NASDAQ: FORTY)

Core business

Simulation-modeling tools and services to owners and operators of
large industrial systems (electricity, aviation, chemical).

Employees:  35
Market regions:  Worldwide

Overview

CLOCKWORK SOLUTIONS develops and markets performance based
simulation models and modeling services. CLOCKWORK's powerful
proprietary predictive modeling technology forecasts the
performance and life cycle costs of complex, expensive assets.
Once armed with a CLOCKWORK predictive model, clients can analyze
the likelihood of the assets meeting performance targets of
availability and reliability and make the right decisions to
minimize costs and improve profitability. Customers can predict
and optimize the life cycle cost and performance of capital
assets and have confidence in their decisions.

CLOCKWORK's proprietary modeling technology, SPAR, uses a
real-time Monte Carlo approach to building comprehensive,
reliability-based predictive models of any complex asset, such as
a power plant and its distribution system, a fleet of aircraft, a
group of chemical plants, etc. SPAR's Monte Carlo techniques,
stemming from original research in nuclear engineering and
developed over more than a decade of advanced research and
development, are the only mathematical techniques powerful enough
to account for the intrinsic complexity of such systems.

SPAR is applicable across all phases of the asset's life cycle,
from design, engineering, construction, operations, and into
sustainment, refurbishment, and eventual retirement or
replacement. No analytic technique possesses SPAR's ability to
evaluate time-dependent processes such as equipment aging, the
dynamic effects of maintenance and operating policies, and
system-wide equipment interactions.

Accurately calculating performance and life cycle costs entails
forecasting possible outcomes within a range of possibilities.
This range constitutes the risks, What is the likelihood that the
asset will not perform as intended? What is the impact of
nonperformance on the rest of the system? What are the costs
associated with the asset not meeting its performance goals? SPAR
models predict and optimize the future performance of complex,
expensive assets and their life cycle costs. Along with these
predictions, SPAR models can quantify risks and identify their
sources.

CLOCKWORK has the expertise and experience, as well as the
technology, methodology and tools to solve challenging problems
in asset management. CLOCKWORK's key differentiators are in its
track record of integrating all contributing characteristics of
complex assets and their environments, including the reliability
of their constituent components, their expected usage (op tempo),
the capacity and responsiveness of their support systems, and the
costs attributed to all of these characteristics. CLOCKWORK
excels in predicting the performance of very complex systems in
their entirety.