The Reid Newfoundland Company and other financial backers, under the name of Newfoundland Power and Paper Company, began construction of the mill in Corner Brook in 1923 . with the first paper produced in 1925. A planned, industrial town quickly grew around the mill site. In 1927 the company was incorporated as the International Paper Company of Newfoundland Limited and was acquired by Bowater-Lloyd Corporation in 1938. The company became part of the Kruger organization in December of 1984.