Editing together 2 separate AE CC rendered projects in Premiere?

Hi

I have 2 seperate AE CC hi-def project with audio tracks (40 sec & 3:00 mins) I want to edit together. Is it common to import 2 rendered projects in Premiere and to export as one movie?

The projects were made seperately, and the 40 sec version is 32bit and the other 8 bit (8 bit for Text > Effects > Count/Format), the question of which bit type to use is a different matter, but I expect that it's OK to import 2 separate rendered movies into premiere in order to create 1 final edit?

Thanks

Dylan