The five major suppliers of automotive-refinish coatings are under investigation for possible price fixing in a probe by U.S. antitrust authorities.
The investigation has been under way since January and a federal grand jury has been convened to consider price-fixing allegations against DuPont Co., The Sherwin-Williams Co., PPG Industries Inc., BASF AG, and Akzo Nobel. Spokesmen for the companies have confirmed that the investigation is under way, but said they have no reason to believe any laws were violated. The spokesmen said the companies are cooperating with authorities involved in the probe.