Listed by the British government in 2008 as an entity of potential concern for WMD-related procurement; claims to be the first and largest low and medium voltage switchgear designer and manufacturer in Iran; also involved with mobile, modular and conventional substations, insulators, disconnectors, industrial automation, and relay, control and protection panels; provides engineering, procurement and construction services for transmission and distribution projects in the power, water and sewage, automotive, petrochemical, petroleum and gas industries.

Part of the Fulmen Group, with some shares transferred to the Fulmen Group in 2003; Folmen Company owns 17.5% of MIC; shareholder in several electrical companies; managing director, Mahmood Reza Abhari; chairman of the board of directors, Mansoor Morshed; board members have included Ali Reza Sabet, Hossein Amini and Mine and Industrial Investment Co. (shareholder in MIC); other managers have reportedly included Ali Moslehi and Mr. Tehrani. 

Established in 1959 as an equipment repair workshop; taken over by Siemens in 1974; reportedly purchased by the Iranian Ministry of Energy in 1982; changed names to Mehrabad Industrial Company in 1984.