Former Yarra Falls Mills. Yarra Falls Spinning Co, later Yarra Falls Ltd, built its first mill for spinning wool yarn in Johnston St near the Yarra River in 1918. The company became a leader of Australia's textile industry. In 1922 a wool weaving mill was built at 80-110 Trenerry Cres and in 1928 the Austral Silk and Cotton Mills at 112 Trenerry Cres. The BYFAS silk mill, built in 1937, manufactured parachute silk during World War II. Collingwood Historical Society 2007.