NORANDA TO SPIN OFF FOREST SUBSIDIARIES
<Noranda Inc> said the company planned a
public share offer within three months of its Noranda Forest
Inc unit, which holds Noranda's forest products interests.
    Size of the offer is still undetermined, Noranda said.
    Noranda said Noranda Forest would operate as a freestanding
subsidiary of Noranda. Noranda Forest holds 100 pct of Fraser
Inc, James Maclaren Industries and Noranda Forest Sales and 50
pct stakes in MacMillan Bloedel Ltd <MMBLF> and Northwood Pulp
and Timber.
     Noranda Forest's consolidated 1986 revenues were more than
three billion dlrs, with earnings of 158 mln dlrs.
