U. S. Stamp, an Oxnard firm that produces rubber stamps for business customers, will close its doors May 16, putting 80 employees out of work.
The company's parent, Porelon Inc. of Cookeville, Tenn., has decided to concentrate production in its two other plants, Cookeville and Houston, said Lee Eisenstaedt, Porelon's director of business development.
"Mainly, it's an efficiency move," he said. "But the cost of doing business in California, such as workers' compensation, also figured in the decision."
Eisenstaedt said Porelon lost more than $1 million last year, but that demand for its stamps is strong. Many of the stamps, which are used for endorsing checks, routing memos and similar purposes, are sold through the Office Depot retail chain, he said.