--------------------------------------------------------------------------------




                       SECURITIES AND EXCHANGE COMMISSION
                             WashingtonWASHINGTON, D.C. 20549


                                    Form                                     FORM 8-K


               Current
                CURRENT ReportREPORT PursuantPURSUANT toTO SectionSECTION 13 orOR 15(dD) ofOF
                      The                       THE SecuritiesSECURITIES ExchangeEXCHANGE ActACT ofOF 1934




             Date of Report (date of earliest event reported): NovemberJanuary 15, 20012002




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



                                    DelawareDELAWARE
                 (State or other jurisdiction of incorporation)




                                                                       333-18723
                            (Commission File Number)



                                   76-0518669
                                         (I.R.S. Employer Identification Number)




                          
     5847 SanSAN FelipeFELIPE, SuiteSUITE 2600
                                 Houston           HOUSTON, TexasTEXAS                                77057-3010
                    (Address of Principal Executive Offices)
                                     77057
                                                    (Zip Code)


       

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



--------------------------------------------------------------------------------

Item 5.      Other Events.

      AnyAttached capitalizedhereto termsas usedExhibit herein99.1 haveis thea samepress meaningrelease assigneddated toJanuary them15, 2002
inand theissued Company'sby FormKaiser 10-KAluminum forCorporation the("KAC"), fiscalan yearaffiliate endedof Decemberthe 31registrant, 2000.

      Inin connection with thediscussions consummationKAC ofwill thebegin Headwaters Agreement, the state
of California agreed to purchasehave awith portionits of Pacific Lumber's Grizzly Creeknoteholders
grove.regarding Theits salenear-term ofdebt the Grizzly Creek acreage was completed on November 15, 2001maturities.
Pacific Lumber will receive an aggregate of $19.8 million as a result of such
sale.

                                   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.





DateDated:  NovemberJanuary 1615, 20012002
                                                                                   MAXXAM GROUPGroup HOLDINGSHoldings INCInc.
                                                  (Registrant)


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


                                  EXHIBIT INDEX


Exhibit 99.1:   Press release dated January 15, 2002
Filing Compare · MAXXAM GROUP HOLDINGS INC
