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<P>&nbsp;</P></DIV></DIV><BR>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><B><FONT
size=2>UNITED STATES</FONT></B></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><B><FONT
size=2>SECURITIES AND EXCHANGE COMMISSION</FONT></B></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><B><FONT
size=2>WASHINGTON, D.C. 20549</FONT></B></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT
size=2></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><B><FONT
size=2>FORM 8-K</FONT></B></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT
size=2></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT
size=2></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><B><FONT
size=2>CURRENT REPORT</FONT></B></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><B><FONT
size=2>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of
1934</FONT></B></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><FONT
size=2></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT
size=2>Date of Report (Date of earliest event reported):</FONT><FONT
size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U><B><FONT
size=2>April 19, 2005</FONT></B></U><FONT size=2>&nbsp;</FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><FONT
size=2></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><FONT
size=2></FONT>&nbsp;</P>
<TABLE style="BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width=605 border=0>
  <TR>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; BORDER-LEFT-COLOR: gray; BORDER-BOTTOM-COLOR: gray; PADDING-BOTTOM: 0in; BORDER-TOP-COLOR: gray; PADDING-TOP: 0in; BORDER-RIGHT-COLOR: gray"
    vAlign=top width="100%">
      <P style="MARGIN-RIGHT: -0.15in; TEXT-ALIGN: center" align=center><B><FONT
      size=2>MAXXAM INC.</FONT></B></P></TD></TR></TABLE>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT
size=2>(Exact name of registrant as specified in its charter)</FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT
size=2></FONT>&nbsp;</P>
<TABLE style="BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="94%" border=0>
  <TR>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in"
    vAlign=top width="37%">
      <P style="MARGIN-RIGHT: -5.4pt; TEXT-ALIGN: center" align=center><B><FONT
      size=2>Delaware</FONT></B></P></TD>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in"
    vAlign=top colSpan=5>
      <P style="MARGIN-RIGHT: -0.15in; TEXT-ALIGN: center" align=center><B><FONT
      size=2>1-3924</FONT></B></P></TD>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in"
    vAlign=top width="34%">
      <P style="MARGIN-RIGHT: -0.15in; TEXT-ALIGN: center" align=center><B><FONT
      size=2>95-2078752</FONT></B></P></TD></TR>
  <TR>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in"
    vAlign=top width="37%">
      <P style="MARGIN-RIGHT: -0.15in; TEXT-ALIGN: center" align=center><FONT
      size=2>(State or other jurisdiction of incorporation or
      organization)</FONT></P></TD>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in"
    vAlign=top colSpan=5>
      <P style="MARGIN-RIGHT: -0.15in; TEXT-ALIGN: center" align=center><FONT
      size=2>(Commission File Number)</FONT></P></TD>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in"
    vAlign=top width="34%">
      <P style="MARGIN-RIGHT: -0.9pt; TEXT-ALIGN: center" align=center><FONT
      size=2>(I.R.S. Employer Identification No.)</FONT></P></TD></TR>
  <TR>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in"
    vAlign=top width="37%">
      <P style="MARGIN-RIGHT: -0.15in; TEXT-ALIGN: center" align=center><FONT
      size=1></FONT>&nbsp;</P></TD>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in"
    vAlign=top colSpan=5>
      <P style="MARGIN-RIGHT: -0.15in; TEXT-ALIGN: center" align=center><FONT
      size=1></FONT>&nbsp;</P></TD>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in"
    vAlign=top width="34%">
      <P style="MARGIN-RIGHT: -0.15in; TEXT-ALIGN: center" align=center><FONT
      size=1></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in"
    vAlign=top colSpan=3>
      <P style="MARGIN-RIGHT: -0.15in; TEXT-ALIGN: center" align=center><B><FONT
      size=2>1330 Post Oak Boulevard</FONT></B><BR><B><FONT size=2>Suite
      2000</FONT></B></P>
      <P style="MARGIN-RIGHT: -0.15in; TEXT-ALIGN: center" align=center><B><FONT
      size=2>Houston, Texas</FONT></B></P></TD>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in"
    vAlign=top colSpan=2>
      <P style="MARGIN-RIGHT: -0.15in; TEXT-ALIGN: center" align=center><FONT
      size=1></FONT>&nbsp;</P></TD>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in"
    vAlign=top colSpan=2>
      <P style="MARGIN-RIGHT: -0.15in; TEXT-ALIGN: center"
      align=center><BR><BR></P>
      <P style="MARGIN-RIGHT: -0.15in; TEXT-ALIGN: center" align=center><B><FONT
      size=2>77056</FONT></B></P></TD></TR>
  <TR>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in"
    vAlign=top colSpan=3>
      <P style="MARGIN-RIGHT: -0.15in; TEXT-ALIGN: center" align=center><FONT
      size=2>(Address of principal executive offices)</FONT></P></TD>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in"
    vAlign=top colSpan=2>
      <P style="MARGIN-RIGHT: -0.15in; TEXT-ALIGN: center" align=center><FONT
      size=1></FONT>&nbsp;</P></TD>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in"
    vAlign=top colSpan=2>
      <P style="MARGIN-RIGHT: -0.15in; TEXT-ALIGN: center" align=center><FONT
      size=2>(Zip Code)</FONT></P></TD></TR>
  <TR>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in"
    vAlign=top colSpan=2>
      <P style="MARGIN-RIGHT: -0.15in; TEXT-ALIGN: center" align=center><FONT
      size=1></FONT>&nbsp;</P></TD>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in"
    vAlign=top colSpan=2>
      <P style="MARGIN-RIGHT: -0.15in; TEXT-ALIGN: center" align=center><FONT
      size=1></FONT>&nbsp;</P></TD>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in"
    vAlign=top colSpan=3>
      <P style="MARGIN-RIGHT: -0.15in; TEXT-ALIGN: center" align=center><FONT
      size=1></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in"
    vAlign=top colSpan=2>
      <P style="MARGIN-RIGHT: -0.15in; TEXT-ALIGN: center" align=center><FONT
      size=1></FONT>&nbsp;</P></TD>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in"
    vAlign=top colSpan=2>
      <P style="MARGIN-RIGHT: -0.15in; TEXT-ALIGN: center" align=center><FONT
      size=1></FONT>&nbsp;</P></TD>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in"
    vAlign=top colSpan=3>
      <P style="MARGIN-RIGHT: -0.15in; TEXT-ALIGN: center" align=center><FONT
      size=1></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD
    style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in"
    vAlign=top colSpan=7>
      <P style="MARGIN-RIGHT: -0.15in; TEXT-ALIGN: center" align=center><FONT
      size=2>Registrant's telephone number, including area code: </FONT><B><FONT
      size=2>(713) 975-7600</FONT></B></P></TD></TR>
  <TR>
    <TD width=223></TD>
    <TD width=36></TD>
    <TD width=96></TD>
    <TD width=12></TD>
    <TD width=4></TD>
    <TD width=20></TD>
    <TD width=210></TD></TR></TABLE>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><FONT
size=2></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><FONT
size=2></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><FONT
size=2>Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):</FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><FONT
size=2></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><FONT
size=2><img src="ballot.jpg"> Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)</FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><FONT
size=2><img src="ballot.jpg"> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)</FONT></P>
<P
style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.12in; TEXT-INDENT: -0.12in; TEXT-ALIGN: justify"><FONT
size=2><img src="ballot.jpg"> Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17&nbsp;CFR 240.14d-2(b))</FONT></P>
<P
style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.12in; TEXT-INDENT: -0.12in; TEXT-ALIGN: justify"><FONT
size=2><img src="ballot.jpg"> Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17&nbsp;CFR 240.13e-4(c))</FONT></P>
<DIV
style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 1pt; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: 0.05em solid">
<DIV
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<P>&nbsp;</P></DIV></DIV><BR>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT
size=2></FONT>&nbsp;</P><BR>
<HR align=center width="100%" noShade SIZE=2>

<P style="PAGE-BREAK-BEFORE: always"></P><PAGE>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT
size=2></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT
size=2></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; TEXT-ALIGN: left"><B><FONT
size=2>Item 8.01. Other Events. </FONT></B></P>
<P
style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify"><FONT
size=2>On April 19, 2005, the Registrant's indirect wholly owned subsidiary, The
Pacific Lumber Company ("Palco"), and Palco's subsidiary, Britt Lumber Co., Inc.
("Britt"), as borrowers, closed </FONT></P>
<TABLE style="MARGIN-LEFT: 0.75in; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 border=0>
  <TR>
    <TD
    style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 12pt; PADDING-TOP: 0in"
    vAlign=top width="4%">
      <P><FONT size=4><B>&#149;</B></FONT></P></TD>
    <TD
    style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 12pt; PADDING-TOP: 0in"
    vAlign=top>
      <P><FONT size=2>a five-year $30.0 million secured asset-based revolving
      credit facility ("Revolving Credit Facility") with The CIT Group/Business
      Credit, Inc.; and </FONT></P></TD></TR>
  <TR>
    <TD
    style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 12pt; PADDING-TOP: 0in"
    vAlign=top width="4%">
      <P><FONT size=4><B>&#149;</B></FONT></P></TD>
    <TD
    style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 12pt; PADDING-TOP: 0in"
    vAlign=top>
      <P
      style="BORDER-LEFT-COLOR: gray; BORDER-BOTTOM-COLOR: gray; BORDER-TOP-COLOR: gray; TEXT-INDENT: 3pt; BORDER-RIGHT-COLOR: gray"><FONT
      size=2>a five-year $35.0 million secured term loan ("Term Loan") with
      Credit Suisse First Boston. </FONT></P></TD></TR></TABLE>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><FONT
size=2>The borrowers used a portion (approximately $10.8 million) of the funds from the Term Loan to pay off
amounts previously borrowed under their revolving credit facility with Bank of
America (and terminated such facility). The borrowers have not yet borrowed any
amounts under the Revolving Credit Facility. </FONT></P>
<P
style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify"><FONT
size=2>The material terms of the Revolving Credit Facility, Term Loan will be
described in a subsequent Current Report on Form 8-K filed with the Securities
and Exchange Commission.</FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 24pt; TEXT-ALIGN: center"><B><FONT
size=2>SIGNATURES</FONT></B></P>
<P
style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify"><FONT
size=2>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.</FONT></P>
<TABLE style="BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width=640 border=0>
  <TR>
    <TD
    style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0.5in; PADDING-TOP: 0in"
    vAlign=top width="7%">
      <P><FONT size=2>Date:</FONT></P></TD>
    <TD
    style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0.5in; PADDING-TOP: 0in"
    vAlign=top colSpan=2>
      <P><FONT size=2>April 20, 2005</FONT></P></TD>
    <TD
    style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0.5in; PADDING-TOP: 0in"
    vAlign=top colSpan=2>
      <P><FONT size=2>MAXXAM INC.</FONT></P></TD>
    <TD colSpan=3>
      <P><FONT size=1></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD colSpan=2>
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top colSpan=2>
      <P><FONT size=2>By:</FONT></P></TD>
    <TD vAlign=top colSpan=3>
      <P><U><FONT size=2>/s/ Bernard L. Birkel</FONT></U></P></TD>
    <TD width="25%">
      <P><FONT size=1></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD colSpan=2>
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top colSpan=2>
      <P><FONT size=2>Name:</FONT></P></TD>
    <TD vAlign=top colSpan=2>
      <P><FONT size=2>Bernard L. Birkel</FONT></P></TD>
    <TD colSpan=2>
      <P><FONT size=1></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD colSpan=2>
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top colSpan=2>
      <P><FONT size=2>Title:</FONT></P></TD>
    <TD vAlign=top colSpan=4>
      <P><FONT size=2>Secretary &amp; Senior Assistant General
    Counsel</FONT></P></TD></TR>
  <TR>
    <TD width=48></TD>
    <TD width=228></TD>
    <TD width=11></TD>
    <TD width=37></TD>
    <TD width=94></TD>
    <TD width=39></TD>
    <TD width=19></TD>
    <TD width=164></TD></TR></TABLE>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT
size=2></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT
size=2></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT
size=2></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT
size=1>W:\Corporate\Birkel\0633FMS4 BLB.DOC</FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT
size=2></FONT>&nbsp;</P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT
size=2></FONT>&nbsp;</P></DIV></BODY></HTML>
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{"company-data": {"conformed-name": "MAXXAM INC", "cik": "0000063814", "assigned-sic": "3334", "irs-number": "952078752", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-03924", "film-number": "05761503"}, "business-address": {"street1": "1330 POST OAK BOULEVARD", "street2": "SUITE 2000", "city": "HOUSTON", "state": "TX", "zip": "77056-3058", "phone": "7139757600"}, "mail-address": {"street1": "1330 POST OAK BOULEVARD", "street2": "SUITE 2000", "city": "HOUSTON", "state": "TX", "zip": "77056-3058"}, "former-company": [{"former-conformed-name": "MCO HOLDINGS INC", "date-changed": "19881115"}, {"former-conformed-name": "MCCULLOCH OIL CORP", "date-changed": "19800630"}, {"former-conformed-name": "MCCULLOCH OIL CORP OF CALIFORNIA", "date-changed": "19691118"}]}
UNITED STATES
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):
April 19, 2005
MAXXAM INC.
(Exact name of registrant as specified in its charter)
Delaware
1-3924
95-2078752
(State or other jurisdiction of incorporation or
      organization)
(Commission File Number)
(I.R.S. Employer Identification No.)
1330 Post Oak Boulevard
Suite
      2000
Houston, Texas
77056
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code:
(713) 975-7600
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events.
On April 19, 2005, the Registrant's indirect wholly owned subsidiary, The
Pacific Lumber Company ("Palco"), and Palco's subsidiary, Britt Lumber Co., Inc.
("Britt"), as borrowers, closed
•
a five-year $30.0 million secured asset-based revolving
      credit facility ("Revolving Credit Facility") with The CIT Group/Business
      Credit, Inc.; and
•
a five-year $35.0 million secured term loan ("Term Loan") with
      Credit Suisse First Boston.
The borrowers used a portion (approximately $10.8 million) of the funds from the Term Loan to pay off
amounts previously borrowed under their revolving credit facility with Bank of
America (and terminated such facility). The borrowers have not yet borrowed any
amounts under the Revolving Credit Facility.
The material terms of the Revolving Credit Facility, Term Loan will be
described in a subsequent Current Report on Form 8-K filed with the Securities
and Exchange Commission.
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:
April 20, 2005
MAXXAM INC.
By:
/s/ Bernard L. Birkel
Name:
Bernard L. Birkel
Title:
Secretary & Senior Assistant General
    Counsel
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