The Livingston-based business won the contract from TPF in July 2008.
A spokesman for Sky said: "Following a review of Sky’s print requirements, we have taken the decision to move our business to a new supplier. We are working closely with FST to ensure as smooth a transition as possible."
FST managing director Paul Beaumont could not be reached for comment.
It is understood that the contract will move to Leicester-based GI Solutions, however Sky declined to comment on the new contract holder.
In September 2010, FST Technologies spent £2m on a duplex, full-colour Océ JetStream 750, a ColorStream 9000 capable of two-colour production, and a cutsheet Océ CS665 digital printer, more than doubling its capacity, to handle an increase in its business.
'Jobs at risk' at FST as firm loses Sky printing contract
Scottish printer FST Technologies has lost a contract to print transactional mail for satellite television company Sky.