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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    Form 8-K


                Current Report Pursuant to Section 13 or 15(d) of
                       The Securities Exchange Act of 1934




       Date of Report (date of earliest event reported): February 12, 2002




                                   MAXXAM INC.
             (Exact name of Registrant as Specified in its Charter)



                                    Delaware
                 (State or other jurisdiction of incorporation)




                                     1-3924
                            (Commission File Number)



                                   95-2078752
                     (I.R.S. Employer Identification Number)




                           5847 San Felipe, Suite 2600
                                 Houston, Texas
                    (Address of Principal Executive Offices)
                                      77057
                                   (Zip Code)


       Registrant's telephone number, including area code: (713) 975-7600


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Item 5.  Other Events.

      Attached as Exhibits 99.1 and 99.2 are press releases dated February 12,
2002 and issued by Kaiser Aluminum Corporation ("KAC"), the registrant's
62%-owned subsidiary, and the registrant, respectively, in connection with KAC's
filing for Chapter 11 bankruptcy protection.

      Also attached as Exhibit 99.3 is a press release related to KAC obtaining
debtor in possession financing, subject to bankruptcy court approval




                                   SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.





Date:  February 12,  2002
                                                    MAXXAM INC.
                                                   (Registrant)


                                           By: /s/ Bernard L. Birkel
                                              ------------------------
                                                 Bernard L. Birkel
                                                     Secretary





                                  EXHIBIT INDEX


*Exhibit 99.1:  KAC's Press Release dated February 12, 2002 regarding
                filing Chapter 11

*Exhibit 99.2:  Registrant's Press Release dated February 12, 2002

*Exhibit 99.3:  KAC's Press Release dated February 12, 2002 related to debtor
                in possession financing



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* Included with this filing