Acid functional and epoxy functional polyester resins

A linear or branched polyglycidylester resin produced by reacting a carboxyl functional polyester resin with an excess epihalohydrin in the presence of a suitable base, wherein the carboxyl functional polyester resin is produced by reacting

• (a) at least one dicarboxylic acid compound of the formula ##STR3## wherein x.gtoreq.1 and wherein R.sub.1 and R.sub.2 each represent an alkyl group having from 1 to 4 carbon atoms or wherein R.sub.1 and R.sub.2 form together with the group .about.CH--(CH.sub.2).sub.x --CH.about. a cycloalkylgroup (A1), optionally mixed with minor amounts of a corresponding dicarboxylic acid compound of formula I wherein x=0, or anhydride thereof (A2),
• (b) with at least one diol compound (B), comprising two aliphatic hydroxyl groups, which may each independently be a primary or a secondary hydroxyl group;
• (c) optionally at least one dihydroxymonocarboxylic acid compound (C), comprising a tertiary aliphatic carboxyl group and two aliphatic hydroxyl groups which may each independently be primary or secondary hydroxyl, and
• (d) optionally at least one trihydroxyalkane (D1) or tetrahydroxyalkane (D2);
• (e) wherein the molar ratio compounds (A1+A2):B:C:D1:D2 is (X+Y+2Z+3Q+P):X:Y:Z:Q, wherein X ranges from 1 to 8, Y ranges from 0 to 8, Z ranges from 0 to 4, Q ranges from 0 to 3, and P ranges from 1 to 5, at a temperature of from 100 to 240.degree. C., until essentially all the hydroxyl groups as initially present in the reaction mixture have been reacted.