"Hungarian bus manufacturer Ikarus and the Iranian City Industries and Mines Development Group (City IMD), affiliated to Shahr Bank (City Bank), have signed a memorandum of understanding to import buses. During a meeting in Tehran on Monday, Ikarus Chairman Gábor Széles and City IMD Chief Mohsen Ahmadi signed the initial agreement, the local firm reported in a press release on its website. Later and in an interview with Hungarian newspaper Magyar Hírlap, Széles said, “Ikarus plans to export 1,000 buses to Iran. The country is a key element to Ikarusʼs export strategy”. (December 7, 2017)