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Company News:
Xantrex Obtains Final Order for Acquisition by Schneider Electric S.A.
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VANCOUVER, B.C., September 25, 2008 - Xantrex Technology Inc. (TSX:XTX) announced that today the Supreme Court of British Columbia granted the Final Order the company was seeking under subsection 192(4) of the Canada Business Corporations Act, approving the company’s previously disclosed arrangement transaction with Schneider Electric S.A. (“Schneider Electric”).
The Schneider Electric transaction remains on track for completion later this month or in early October, 2008.
About Xantrex
Xantrex Technology Inc. (www.xantrex.com) is a world leader in the development, manufacturing and marketing of advanced power electronic products and systems for the renewable and mobile power markets. The company’s products convert and control raw electrical power from any central, distributed, renewable, or backup power source into high-quality power required by electronic equipment and the electricity grid. Xantrex is headquartered in Vancouver, Canada, with facilities in the United States, Germany, Spain, England, and a joint venture in China. Xantrex is listed on the Toronto Stock Exchange under the ticker symbol "XTX".
About Schneider Electric
Global specialist in energy management, Schneider Electric offers integrated solutions making energy safe, reliable, efficient and productive in the energy & infrastructure, industry, data centres & networks, buildings and residential markets. With sales of 17.3 billion euro in 2007, the company's 120,000 employees in 102 countries help individuals & organisations make the most of their energy.
Forward looking statements
Note that this news release contains forward-looking statements related to Xantrex Technology Inc. Such statements reflect the current views of Xantrex with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in these forward-looking statements.
For further information, please contact:
Xantrex Investor Relations
(604) 422-2601
investor.relations@xantrex.com
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