Updated from 11:57 a.m. EDT
will pay a portion of the costs associated with
recall of defective tires, and its profits will likely suffer for the second half of the current fiscal year, the company said Friday.
The news had little impact on investors as Ford shares finished Friday regular trading slightly up 13 cents, or 1%, at $26.
In a filing with the
Securities and Exchange Commission
, Ford said it had "preliminarily agreed to bear a portion of the costs of Firestone's recall." It added that revenue will likely fall and costs rise as a result, but that it is too early to assess the overall financial impact.
In addition, Dearborn, Mich.-based Ford said it suspended production of its Explorer, Mountaineer, Ranger and B Series models for the two-week period beginning Aug. 28, which will allow the company to divert about 70,000 tires for use in the recall.
On Aug. 9, Firestone, a subsidiary of Japan's
, announced a North American recall of certain tire models due to defects.