SEOUL, April 18 (Reuters): South Korea's POSCO Coated & Color Steel Co Ltd (POSCO C&C) shas announced that it will end its joint venture with Myanmar Economic Holdings Public Co Ltd (MEHL), a firm controlled by the military in Myanmar which took control of the country in February.
The South Korean firm said it is in talks to buy MEHL's 30% stake to continue operations with full ownership. The venture mainly makes sheet metal for residential and factory roofing, earning 2020 operating profit of 2 billion won ($1.79 million).
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