Process for the preparation of phenolic resin-containing dispersions and their use as adhesives

A process for the preparation of aqueous dispersions which comprises

• (a) dissolving a solid thermoplastic polymeric material or a solid rubber in a phenol or mixture of phenols at a temperature of 30.degree. to 120.degree. C., under conditions such that the phenol or mixture of phenols is in a liquid state,
• (b) by adding at least one member selected from nonionic surface active agents, anionic surface active agents, and protective colloids,
• (c) adjusting the resulting mixture to a pH above 7 by addition of a base,
• (d) adding aqueous formaldehyde solution, or a formaldehyde donor, to a molar ratio of phenol to formaldehyde within the range 1:1 to 1:3,
• (e) adding water if necessary, to bring the mixture to a water content of at least 20% by weight, calculated on the weight of the phenol, and
• (f) heating the mixture and allowing it to react to form a phenolic resole.