The European and US anti-trust authorities are investigating alleged price fixing in the carbon black industry. Leading US-based producers Cabot Corp. and Phelps Dodge Corp. made statements on 19 and 20 November stating that they had been contacted and that documents at their facilities were under review. Both companies have production plants in the USA and Europe, and Cabot claims to be the world's largest producer. Neither company would comment on the issue further than their official statements, but it seems that this is a major global investigation, given that both the US and European authorities are involved. Shares in both companies fell about 10 percent following the announcements. Dusseldorf, Germany-based producer Degussa AG confirmed on 21 November that its company documents are being scrutinised by both European and US authorities at its offices in Frankfurt and Parsippany, New Jersey. The statement went on to say, "Degussa is confident that the investigation will prove soon hat a price fixing within the carbon black industry did not happen."
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