LISBON - Miller-Holzwarth Inc., the Salem company which closed its doors suddenly last week, was ordered to pay another company $1.56 million last Friday by a judge in Medina County.
According to court documents there, NorcaTec LLC, had entered into an agreement in January with Miller-Holzwarth Inc., which required the company to pay the $1,562,885. The agreement included a requirement for Miller-Holzwarth to begin making payments, paying $350,000 within 90 days of April 17, 2012.
The agreement stemmed from an arbitration the two companies were involved in during 2009.
However, on May 18, June 20, and July 16, Miller-Holzwarth had only made payments of $7,500 per month, not coming close to the $350,000 due within 90 days. A notice of a default of the money was issued to Miller-Holzwarth on July 25 and delivered by an overnight service.
Employees at the company, located on West Pershing Street, learned on Monday, July 30, the company would be shut down at the end of the day.
A judgment entry requesting a lien on the lands and other assets of Miller-Holzwarth was forwarded on Thursday to the Columbiana County Common Pleas Court from the court in Medina County.
According to its website, NorcaTec "is a global procurement, light manufacturing and materials management company specializing in the support of defense aerospace equipment and electronics," providing parts and accessories to support the aircraft and missile systems.
Miller-Holzwarth was founded in 1955 by William Miller and John Holzwarth to produce hospital beds, but in recent decades has been involved in the manufacturing of components for armored combat vehicles. Jennifer Moll is listed as the current president of the company on court documents.