The Millhaven Fibres Plant opened September 28, 1955 as the third polyester plant in the world. It was originally built to manufacture a new type of synthetic yarn called Terylene, which is known as Dacron in the United States. Terylene polyester fibre was invented in England in 1940 and had wide application in the apparel trade and for industrial use. In 1966, Terylene underwent a name change, to Fortrel. This happened in the same year as the plant's name being changed