Business briefs

Ford teams with Sollers to make, sell cars in Russia

Ford Motor Co. is teaming up with Russian automaker Sollers to make and distribute cars in Russia, one of the fastest growing auto markets. Under a deal announced Friday, Sollers will build Fords at Russian plants, helping boost a struggling local industry. Ford will have access to a huge market that could bolster its revenues. Financial details weren't disclosed, but the automakers said they will have equal stakes in their joint venture called Ford Sollers. Ford declined to give production or sales targets for the venture. The announcement came shortly after Italian automaker Fiat SpA backed out of a potential partnership with the same Russian company. Ford Motor Co. shares closed down 20 cents at $15.77 Friday.

- AP

Jennifer Convertibles gets judge's OK for bankruptcy

A federal bankruptcy judge has approved a Chapter 11 reorganization plan for Woodbury sofa-bed maker Jennifer Convertibles, the legal publication Westlaw Journals reports. Jennifer and its affiliates had to show that reorganization could repay creditors at least as much as liquidation. Judge Allan L. Gropper, of the U.S. Bankruptcy Court for the Southern District of New York, in Manhattan, said Jennifer and all but one of the affiliates - Hartsdale Convertibles - passed that test. The debtors "must either make payment in full to a small group of creditors of debtor Hartsdale Convertibles Inc. or supply an additional liquidation analysis for those creditors," the report said. While it continued to do business, Jennifer Convertibles and its subsidiaries filed under Chapter 11 in July. - Joseph Mallia

Bethpage-based Balfour wins small-business award

Bethpage-based Balfour Technologies, a homeland security software maker, said it has won the Tibbetts Award from the Small Business Administration in recognition of its innovation and job creation. Balfour was the only Long Island company on the list of 44 businesses receiving this year's SBA awards. The award honors outstanding small businesses and individuals who take part in its Small Business Innovation Research program. Balfour produces a "four-dimensional, integrated visualization technology for a variety of markets."

- JOSEPH MALLIA