Cornish Joins AMB Property Corporation(R) as Senior Vice President, Chief Operating Officer, China
August 05 2008 - 3:17PM
PR Newswire (US)
SAN FRANCISCO, Aug. 5 /PRNewswire-FirstCall/ -- AMB Property
Corporation(R) (NYSE:AMB), a leading global developer and owner of
industrial real estate, today announced Ben M. Cornish (39) has
joined the company as senior vice president, chief operating
officer for China, a new position within AMB responsible for the
company's expansion in China. A veteran of numerous industrial and
retail real estate developments in Asia since 1997, Cornish was
most recently president of GMS China, a developer of retail
properties throughout China. Previously, he was in charge of China
real estate development for Wal-Mart International for five years,
served as managing director for the Southeast Asia Division of Koll
Development, and developed warehouses for Trammell Crow in both the
U.S. and China. "Ben's proven track record in real estate
development across Asia, his experience throughout China and his
thorough understanding of our customers' businesses make him a
valuable addition to our China team," said Guy F. Jaquier, AMB's
president, Europe & Asia. "We're delighted to have Ben help
lead our growing China platform." AMB's presence in China totals
approximately 2.6 million square feet (241,100 square meters) of
operating and under development properties in Shanghai and Beijing,
including the company's recent acquisition of the 306,000 square
foot (28,400 square meter) AMB Beijing Capital Airport Distribution
Center 1. The company is also targeting Chengdu and the Pearl River
Delta markets for future investment. Cornish holds a bachelor of
science degree, as well as a master of science degree in land
development from Texas A&M University, and enhanced his
education with post graduate studies in international development.
Cornish reports to Thomas F. Marquis, managing director of AMB
Property China, and will be based in AMB's newly-opened Shenzhen
office. AMB Property Corporation.(R) Local partner to global
trade.(TM) AMB Property Corporation(R) is a leading global
developer and owner of industrial real estate, focused on major hub
and gateway distribution markets in the Americas, Europe and Asia.
As of June 30, 2008, AMB owned, or had investments in, on a
consolidated basis or through unconsolidated joint ventures,
properties and development projects expected to total approximately
155.5 million square feet (14.5 million square meters) in 47
markets within 15 countries. AMB invests in properties located
predominantly in the infill submarkets of its targeted markets. The
company's portfolio is comprised of High Throughput Distribution(R)
facilities-industrial properties built for speed and located near
airports, seaports and ground transportation systems. AMB's press
releases are available on the company website at
http://www.amb.com/ or by contacting the Investor Relations
department at +1 415 394 9000. Some of the information included in
this press release contains forward-looking statements, such as the
company's ability to grow its business in China, which are made
pursuant to the safe-harbor provisions of Section 21E of the
Securities Exchange Act of 1934, as amended, and Section 27A of the
Securities Act of 1933, as amended. Because these forward-looking
statements involve risks and uncertainties, there are important
factors that could cause our actual results to differ materially
from those in the forward-looking statements, and you should not
rely on the forward-looking statements as predictions of future
events. The events or circumstances reflected in forward-looking
statements might not occur. You can identify forward-looking
statements by the use of forward-looking terminology such as
"believes," "expects," "may," "will," "should," "seeks,"
"approximately," "intends," "plans," "pro forma," "estimates" or
"anticipates" or the negative of these words and phrases or similar
words or phrases. You can also identify forward-looking statements
by discussions of strategy, plans or intentions. Forward-looking
statements are necessarily dependent on assumptions, data or
methods that may be incorrect or imprecise and we may not be able
to realize them. We caution you not to place undue reliance on
forward-looking statements, which reflect our analysis only and
speak only as of the date of this report or the dates indicated in
the statements. We assume no obligation to update or supplement
forward-looking statements. The following factors, among others,
could cause actual results and future events to differ materially
from those set forth or contemplated in the forward-looking
statements: defaults on or non-renewal of leases by tenants,
increased interest rates and operating costs, our failure to obtain
necessary outside financing, re-financing risks, difficulties in
identifying properties to acquire and in effecting acquisitions,
our failure to successfully integrate acquired properties and
operations, our failure to divest properties on advantageous terms
or to timely reinvest proceeds from any divestitures, risks and
uncertainties affecting property development and construction
(including construction delays, cost overruns, our inability to
obtain necessary permits and public opposition to these
activities), our failure to qualify and maintain our status as a
real estate investment trust, environmental uncertainties, risks
related to natural disasters, changes in general economic
conditions or in the real estate sector, changes in real estate and
zoning laws or other local, state and federal regulatory
requirements, a downturn in the U.S., California, or the global
economy, risks related to doing business internationally, losses in
excess of our insurance coverage, unknown liabilities acquired in
connection with acquired properties or otherwise and increases in
real property tax rates. Our success also depends upon economic
trends generally, including interest rates, income tax laws,
governmental regulation, legislation, population changes, various
market conditions and fluctuations and those other risk factors
discussed under the heading "Risk Factors" and elsewhere in our
most recent annual report on Form 10-K for the year ended December
31, 2007. DATASOURCE: AMB Property Corporation CONTACT: Rachel E.
M. Bennett, Media and Public Relations Director of AMB Property
Corporation, +1-415-733-9532, Web site: http://www.amb.com/
Copyright
Amb Properties (NYSE:AMB)
Historical Stock Chart
From Jun 2024 to Jul 2024
Amb Properties (NYSE:AMB)
Historical Stock Chart
From Jul 2023 to Jul 2024