The Brazilian shipbuilderdenied local news reports that it will file for bankruptcy protection in thenext couple of weeks.

Its business initiativesremain on course, the Sao Paulo-listed company told Bloomberg in response to areport on Saturday in Veja magazine.

Veja did not state where ithad got the information.

Shares in OSX fell to an alltime low of BRL 0.69 ($0.3) each on Friday, half the level of just one monthago.

Since