Iran Telecommunication Manufacturing Company (ITMC) - owned by TCI (45%), Industry Bank (35%) and Siemens (20%)[17] Iran Telecommunication Industries (ITI) - ITI was established in 1973 in Shiraz as a fully owned subsidiary of TCI. Within the past 20 years ITI has equipped the telecommunications network, manufactured the analogue and digital transmission equipment, and has also contributed to the communications developments in Iran. As of 2001, ITI employed over 2000 staff.