Milwaukee Electric Tool Corp. says home-improvement giant Lowe Co.’s Inc. owes the manufacturer more than $1.2 million.
The disputed payment is for tools Milwaukee Electric says it shipped before the two companies ended their relationship in 2008.
Milwaukee Electric sued Mooresville-based Lowe’s (NYSE:LOW) and Lowe’s Home Centers Inc. of Madison, Wis., this month in Waukesha County (Wis.) Circuit Court.
Milwaukee Electric signed an agreement in September 2006 to supply power tools to Lowe’s stores. It shipped tools through 2007. The companies did not renew their supplier relationship for 2008.
At the end of the agreement, the retailer owed Milwaukee Electric more than $1.2 million, the suit says. Lowe’s issued itself payment credits in that amount, which Milwaukee Electric alleges were unauthorized and improper.
The company has demanded payment and Lowe’s has refused, the suit says. Milwaukee Electric seeks payment for the balance plus attorney’s fees and other costs.
A Lowe’s spokeswoman declined comment.
Milwaukee Electric Tool is based in Brookfield, Wis.
