Complex sentence: The company grew steadily and in 1970 they built a new factory on the present site in Lae, and in 1972 Arnott's Biscuits (Australia) Pty Ltd bought a majority share in the company.
Split into simpler sentences: The company grew steadily and in 1970 they built a new factory on the present site in Lae. In 1972 Arnott's Biscuits (Australia) Pty Ltd purchased a majority share in the company.