(Yicai Global) May 9 -- Shanghai Pret Composites Co. is partnering up with Shanghai Bantai Enterprise Development Center Ltd., a partnership comprising core members of the Pret team, to research and development special polymer composite engineering materials.

Pret will invest CNY7 million (USD1.1 million) for a 70-percent stake in the joint venture, the materials firm said in a statement on May 8. The new unit will look to produce goods used in the automotive, communications, electronics, aerospace and military sectors.

The aim of the joint venture is to integrate Pret's capital and market advantages with the innovative technologies developed by Bantai, the statement added.

The new firm will make special nylon composites, polyphenylene sulfide, polyphenylene oxide, conductive and antistatic composites, carbon fiber composites, carbon nanocomposites, polysulfone and polyketone materials and other materials that are resistant to high temperatures.

Editor: James Boynton