The invention relates to a process for making modified polybutylene terephththalate random copolymers from a polyethylene terephthalate component. The invention relates to a three step process in which a diol component selected from the group consisting of ethylene glycol, propylene glycol, and combinations thereof reacts with a polyethylene terephthalate component under conditions sufficient to depolymerize the polyethylene terephthalate component into a first molten mixture; and where the first molten mixture is combined with 1,4-butanediol under conditions that create a second molten mixture that is subsequently placed under subatmospheric conditions that produce the modified polybutylene terephthalate random copolymers. The invention also relates to compositions made from the process.