Nashville-based Bridgestone-Firestone will pay the Ford Motor Company 240-million dollars to help defray the cost of replacing tires.

The payment settles a lawsuit over cost sharing responsibilities between the two companies which came after a massive tire recall five years ago. Ford replaced nearly ten million tires on its vehicles after Firestone recalled A-T-X and certain Wilderness A-T tires in 2001. At least 271 people were reported killed and hundreds more injured in accidents involving those models.

Bridgestone spokeswoman Chris Karbowiak says today’s settlement is an important milestone.

“This is a very significant chapter in putting the August 2000 event behind us. This allows Firestone now to look to the future and move on.”

Firestone’s tire recall severed a nearly 100-year old business relationship the company had with Ford. Karbowiak says it is tough to say whether today’s settlement will bring about a new partnership with domestic Ford suppliers.