By 2005 NorskeCanada had operated with a deficit in 13 of 19 quarters, and Norske Skog started considering its options for the company. Pöyry was hired to consider the operations, and concluded that the mills were not competitive for export to Asia, a prime target market for Norske Skog. The paper particularly emphasized inefficient mill designs which led to higher operating costs. The first step was taken in October 2005, when the general meeting approved the new name, Catalyst Paper, to signal that the group was leaving Norske Skog. The Norwegian group sold its 29.4 percent of Catalyst for $186 million in a bought deal on 30 January 2006. At the time Catalyst's four mills made it North America's fourth-largest producer of printing papers, with an annual production of two million tonnes of paper and half a million tonnes of kraft pulp.