An Italian industrialist suspected of selling mines to Iran has been arrested in an investigation into arms- and drug-trafficking between Italy and the Middle East, Italian court officials said. Arrested along with the Valsella Meccanotecnica company president, Ferdinando Borletti, 65, were his son, Giovanni, the company's general manager, and three other executives. The northern Italian firm has been under investigation since a French magazine reported that some of the mines that have damaged ships in the Persian Gulf were made by the company. But Borletti's arrest stemmed from a separate arms and drug ring probe. Deputy State Atty. Augusto Lama said the ring had links with Mideast terrorists and the Sicilian Mafia.