Thank you, Mr. Chair.
Good afternoon, gentlemen. Thank you for being with us today.
My first question is for Mr. Fulfaro.
You made an offer to the government to build 15 European multi-mission frigates, or FREMMs, at a fixed cost of $30 billion. You stated that there would be 15 frigates for $30 billion and that there would be no cost overruns. These frigates would have been built by Irving.
Can you explain how you can tell a government that there will be no cost increase when all the other contracts are still ballooning?