Polestar is to remain in Colchester
Colchester MP Sir Bob Russell, who had been involved in the talks to save the jobs, said: "I am delighted that a resolution has been found so that Polestar in Colchester will continue to operate.
"These are difficult times for the UK printing industry, and I did fear that the Colchester works and upwards of 300 jobs could be lost.
"I have not seen the details of the package which Management and Union representatives have brokered, but from my earlier discussions with local and national Union leaders and with the company's Chief Executive, Mr Barry Hibbert, I sensed that both sides were keen to achieve a positive outcome if this was at all possible.
"I thank Mr Hibbert and the Polestar management, and the local and national Union representatives, for all they have done to reach this resolution.
"I look forward to Polestar having a continuing presence in Colchester, and with the hope of an eventual upturn in the national economy a better future also for the loyal and dedicated workforce."