Approximately 54 g of oleyl alcohol, 51 g of 1,2-hexadecanediol and 100 g of toluene were reacted in a 1 liter reaction equipped as described in Example 1. The contents were heated to about 65° C. and 13 g of boric acid were added. The mixture was further heated up to 155° C. over a period of 4 hours until water evolution stopped. Approximately 11 ml. of water were collected by azeotropic distillation. The solvent was removed by vacuum distillation at 155° C. and the product was filtered at 90°-100° C. through diatomaceous earth.
