The board of directors of Altorfer Inc. has elected Derek R. Altorfer to the position of executive vice president, effective Feb. 1, 2012.

Bruce Altorfer, president of Altorfer Inc., said this promotion is timely, as the family-owned business celebrates its 55th anniversary.

“As we reach this milestone, it’s important for us to look back and acknowledge what our company has been able to accomplish. Even more so, we also look to the future, and are excited to see the next generation carry on the legacy Ed Altorfer began in 1957,” said Bruce Altorfer.

In 2006, Derek joined Altorfer Inc. as marketing manager, and most recently managed all construction parts operations and information technology (IT) functions of the company.

In his new role as executive vice president, Derek will be responsible for Altorfer Inc.’s five operating divisions; construction, power systems, ag, rental services and lift truck. He also will oversee finance, human resources, marketing, IT and safety.

“This is an exciting time for our company,” said Derek Altorfer. “I have been passionate about the business from a young age, and am fortunate to move into this role surrounded by colleagues who are experts in the industries we serve.”

About Altorfer Inc.

Altorfer Inc. is a licensed Caterpillar dealer, with 22 locations in 15 cities throughout Iowa, Missouri and Illinois.

In addition to Cat equipment, Altorfer is an authorized dealer of Lexion, Challenger, AGCO Application Equipment, Taylor, Mitsubishi, JLG, Trail King, and several other allied products.

For more information, call 319/365-0551 or visit www.altorfer.com.