Australian Newsprint Mills was established in 1938 to build a newsprint manufacturing plant adjacent to the River Derwent at Boyer, Tasmania.
[3][4] In August 1972, John Fairfax purchased News Limited's shareholding.
[5] By 1978, the major shareholders were the Herald & Weekly Times with 46% and John Fairfax with 35%.
[6] In August 1981 a second plant opened in Albury, New South Wales.
[7] In March 1988 Fletcher Challenge purchased John Fairfax's 50% shareholding.