A Newark Company will shut down operations come next year and more than one hundred jobs will be lost. The reason… Asian competition. John Jenkins, the General Manager of the Dayton Precision Company, says Asian companies are making components for electrical motors for about thirty percent less than what it costs to make them at the Newark plant. Jenkins says Dayton Precision, whose parent company is Cleveland-based Kirkwood Industries, has been in financial strains for the last three years. The Newark plant is scheduled to close in May.