As the 1950s progressed, the position of the company became increasingly precarious. In late 1959, Daimler-Benz submitted a restructuring offer for BMW subject to a time limit for acceptance. But small shareholders and the workforce rejected this offer at the Annual General Meeting held on 9 December. Their perseverance and his confidence in the BMW 700 motivated Herbert Quandt to ex- pand his package of shares. After the government provided some temporary financial assistance, BMW was restructured under Quandt’s management in the following year. 1961 – The “New Class” makes a breakthrough. 1967 – New location: Plant Dingolfing. 1969 – Motorcycles to Berlin. 1970 – The Herbert Quandt Foundation. 1971 – BMW Kredit GmbH. 1972 – BMW starts up in South Africa. 1972 – Founding of BMW Motorsport GmbH. 1973 – BMW HEADQUARTERS AND BMW MUSEUM.