Communisis in HSBC accord

Communisis has successfully concluded negotiations with HSBC over the acquisition of its bank statement production business.

The deal includes a 10-year, 250m outsourcing contract while HSBC's statement production staff transferred to Communisis on Monday (16 January).

According to Communisis, the contract is part of a strategy to partner with major financial institutions and sources say another deal with a big European bank was in the pipeline.

Communisis' shares received a welcome boost on the back of the news and were trading at 77.5p at PrintWeek closed.