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
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Scottish printer FST Technologies has lost a contract to print transactional mail for satellite television company Sky.