Imitation of timber planks. Surface appearances of flat and woodgrain. 

For external walls, gable ends and screening.

Not to be confused with moulded AC panels of  around three planks appearance, but with smaller widths.

Overlapped horizontal layering. Nailed into studs.  If vertical battens not used at horizontal joints a thin strip of the same AC planking may be adhered to back of panel joints.  Punched nail-heads and joints may be filled with putty.

Marketed as infill panels, incorporated into house design between brickwork, windows and other structural items.   

Also refer Woven asbestos cement sheeting for fences.