SAN FRANCISCO, Sept. 30, 2014 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the global leader in logistics infrastructure, today announced that the Shanghai Municipal Government has honored Ben Cornish, president, Prologis China, with the prestigious Magnolia Gold Award for his outstanding contributions to the city.
The award is given annually to expatriates who have significantly contributed to Shanghai's economic and social development. Created in 1989, the award is one of the highest recognitions given to foreign citizens living in the city. To date, only 278 individuals have received the distinction.
A veteran of real estate development in Asia since 1997, Mr. Cornish led Prologis China to its current status as a respected provider of Class-A logistics facilities. Under his leadership, Prologis China has made valuable contributions to the country's transition from an export-led growth model to an economy based on domestic consumption and technological innovation.
Mr. Cornish received the Magnolia Silver Award in 2012.
"I am deeply honored by this award," Cornish said. "This is not only the highest praise for me personally, it also reflects the dedication of the entire Prologis team, whose everyday efforts enhance Shanghai's growth and development."
Since launching country operations in 2003, Prologis has been recognized on several occasions for its contribution to China's economy, industrial evolution and social responsibility.
Prologis, Inc., is the leading owner, operator and developer of industrial real estate, focused on global and regional markets across the Americas, Europe and Asia. As of June 30, 2014, Prologis owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 571 million square feet (53 million square meters) in 21 countries. The company leases modern distribution facilities to more than 4,700 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises.
The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which Prologis operates, management's beliefs and assumptions made by management. Such statements involve uncertainties that could significantly impact Prologis' financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, development activity and changes in sales or contribution volume of properties, disposition activity, general conditions in the geographic areas where we operate, our debt and financial position, our ability to form new co-investment ventures and the availability of capital in existing or new co-investment ventures — are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust ("REIT") status and tax structuring, (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments in our co-investment ventures and funds, including our ability to establish new co-investment ventures and funds, (viii) risks of doing business internationally, including currency risks, (ix) environmental uncertainties, including risks of natural disasters, and (x) those additional factors discussed in reports filed with the Securities and Exchange Commission by Prologis under the heading "Risk Factors." Prologis undertakes no duty to update any forward-looking statements appearing in this document.
SOURCE Prologis, Inc.