Specialty chemicals company Lanxess has not one but two reasons to celebrate. First, Lanxess Central Eastern Europe based in the Slovakian capital Bratislava has now been in existence for five years. And second, the sales company has recorded significant growth during this period. Since it was founded in 2008, sales in the five core markets of Poland, Austria, Slovakia, the Czech Republic and Hungary have climbed by more than 40%, from around €220 million to some €306 million last year.

This year alone, the manufacturer of synthetic rubbers expects the tire industry in central and eastern Europe to grow by around 5.5%. In addition, the specialty chemicals company forecasts that the automotive industry will see growth of 2% this year and an average of around 4% between 2014 and 2017.

The specialty chemicals company has also made significant changes to its management team. Wolfgang Heuchel was appointed the new CEO of Lanxess Central Eastern Europe in January this year. The 57-year-old succeeded Flemming B. Bjørnslev, who has been appointed President and CEO of Lanxess Corporation in the United States. And in February this year, Peter Svetík took over from Michael Offermanns as Chief Financial Officer (CFO).