Pret Composites to establish subsidiary, expand production in Guangzhou

Shanghai Pret Composites announced it will establish a wholly-owned subsidiary, Guangdong Pret New Materials Co., Ltd., in Guangzhou Nansha Economic and Technological Development Zone, according to an investment cooperation agreement. The new facility represents a total investment of CNY 1,000 million with an expected annual production capacity of 400,000 tons of low-carbon polymer composite materials. Phase one will focus on modified PP, PA, ABS, and PC alloys for automotive applications, while phase two will expand into PEEK, PPS, LCP, and carbon fiber reinforced materials for use in low-altitude economy and robotics. The investment aims to enhance Pret's market competitiveness, facilitate strategic expansion in South China, and address growing demand, and is subject to shareholder approval.