POSCO Coated & Color Steel Co Ltd (POSCO C&C) said on Friday it will end its joint venture with the 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).
