The company Veneer and Plywood Proprietary Limited was first incorporated in 1936, with C W (Bill) Green and Alistair M Henderson as the main shareholders along with L Cumming and J Mulhearn Snr and Jnr. In 1941 the company's operations at Rozelle and Glebe was sold to National Plywood Pty Ltd and the company interests moved to Yarras with the intention of setting up a veneer processing plant. In 1942, operations at the Yarras Mill was suspended when Green and Henderson joined the army and air force. They returned in 1944 and resumed control of the company. On 31 July 1945 Maurice Thompson joined the company as its engineer and it began manufacturing veneers. In 1949, the mill began production of plywood. In 1959 Roseberry Veneer Co Pty Ltd, a subsidiary of CEMAC Associated Ltd, acquired the company. On 9 May 1968 the mill was damaged by fire and was rebuilt six months later. The company changed it's name to Cemac Oxley Pty Ltd in 1970 and later became a part of Cemac Pty Ltd in 1972 which continued to operate the Yarras Mill (also known as Cemac Veneer Mill) until it ceased operations in October 1982. Cemac Oxley Pty Ltd was deregistered as a public company on 2 February 1988.