news release

UMass Boston Awards Lacerta’s Lotfi Entrepreneur of the Year Award .

Boston, May, 1997: The College of Management at the University of Massachusetts Boston recently selected Ali Lotfi, principal of Lacerta Group, Inc., to be the fourth recipient of its Entrepreneur of the Year Award. Lotfi addressed an audience of about 250 graduates at the convocation ceremonies held May 27, 1997.

Lotfi and his brother Mory co-founded the firm in 1993. Located in Boston at 120 Southampton Street, the company recycles magnetic media products such as VHS cassettes, compact discs, computer tapes and audio cassettes.

While a product and design engineer for BASF Corporation, Lotfi saw a need for waste recycling and a service to facilitate the process. He began planning Lacerta when BASF ended tape manufacturing in Bedford, Mass. In 1992.

"Mr. Lotfi is the awardee because, in addition to demonstrating the work ethic, determination and creativity of all successful entrepreneurs, he and his firm have made major contributions to the economic welfare and development of Boston," said College of Management Dean Eric Hayden.

Lacerta subcontracts with Inner City, a Polaroid subsidiary, to hire Boston workers. In addition to training Inner City employees to operate manufacturing equipment, Lacerta develops their math, language, computer and interviewing skills. "In this way, the company and its founder contribute to the long-term upgrading of the quality of the city’s workforce," Hayden says.

Ali and his brother, both mechanical engineers, have experience in research and development, manufacturing of magnetic media, recycling and processing of plastic components and environmental and waste management issues. Their combined expertise and experience allows them to provide the industry with a comprehensive solution to address environmental concerns.

Recently, Lacerta signed a joint effort agreement with DuPont Films to open a pilot facility in Richmond, Virginia, where the two companies will jointly test recovery processes for magnetic media. Initially, the companies will recycle 500,000 pounds of magnetic media tape as they evaluate commercial viability of the processes.

Lacerta currently de-manufactures finished products (rejects, overproduction, recalls, obsolete media formats or damaged products such as video cassettes, audio cassettes, CDs, 9-track tapes, data cartridges, computer tapes and diskettes), recovers the components for possible re-use, or grinds up the components for re-use in different applications. Materials currently being recovered include polycarbonate (PC), polystyrene (PS), polyester (PET), polypropylene (PP), polyethylene (PE), and ABS. The company also develops and produces blister-pack and thermoformed packaging materials, provides de-gaussing and data destruction services and sells a data recovery cracker for data retrieval from damaged 3480/3490 type data cartridges.

For more information on Lacerta Group, Inc., please call Lacerta at (617) 442-3111, or email taperecycle@lacerta.com.

Copyright© Lacerta Group, Inc. 1998