PURPOSE: To obtain the compsn. which is excellent in adhesiveness and impact resistance and good in melt flowability by melt reacting a specific thermoplastic arom. polyester with a modified polyolefin grafted with a glycidyl compd.

CONSTITUTION: The compsn. contg. no unreacted epoxy group is obtd. by melt reacting 100 pts.wt. thermoplastic arom. polyester having an intrinsic viscosity of 0.4-0.9 and a terminal carboxyl content of 45-70meq/kg with 3-30 pts.wt. modified polyolefin obtd. by grafting 0.01-30wt.% glycidyl compd. of the formula wherein R is H or 1-6C alkyl; Ar is a 6-20C arom. glycidyloxyhydrocarbon group; and n is 1-4 onto a polyolefin. The obtd. compsn. is excellent in adhesive properties and mechanical characteristics, esp. impact resistance, and good in flowability.