Romanian Paint, Varnish Maker Policolor Names New Director General

Bardelli replaces Silviu Apostolescu, who was named the company’s deputy director general, Policolor said in a statement.

Bardelli has previously worked at the international chemical companies Max Mayer, Glidden-Salchi, BASF, Degussa-Inxel, DuPont Powder Coatings and Akzo Nobel.

Policolor stock is listed on the Bucharest Stock Exchange, where it last traded up 5.19% at 3.65 lei ($1.3/0.97 euro) by 0903 GMT on Wednesday.

Policolor (www.sinteza.ro) said earlier it plans to turn to a net profit of some 7.5 million lei this year from a loss of more than 9.9 million in 2007. It reported a drop in its first-half net profit to 2.0 million lei, compared to 5.6 million lei a year earlier.

(1 euro = 3.7762 Romanian lei)