"Cement Siding"?

My neighbours have mentioned a newer type of siding board and/or panels called "Cement Siding". Supposedly suitable for our cold maritime climate and fairly easy to cut, nail and install using regular wood tools! One of them intends to or has used this on one end of his A frame summer home as replacement for wood. Also saying it should a) Not be allowed to get wet in storage and b) To paint it immediately upon installation. Any comments/experience or idea what this is? I've seen some literature at a building supplier's but no actual samples as yet. TIA. Terry.
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http://www.jameshardie.com /
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I used this stuff on my pump house a while ago and it has held up well.
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Terry wrote:

Usually "fiber cement siding" board.

Think of it as a hybrid of older-style fiber shingle siding (e.g. asbestos), composites, and engineered wood. The industry has supposedly learned from the mistakes of the 80s and 90s in terms of wood-fiber and glue manufactured into siding board, and is using more advanced materials with better resistance to rot and weather. (Presumably we'll find out in about 10-15 years ... our neighbor's garage is made with some of that lousy laminated cardboard siding, and you can poke a hole through it with your finger.)
It isn't wood, it isn't plywood, it isn't fiberboard, it isn't asbestos shingles, but it has some of the characteristics of each.
I haven't used it, but I've looked at it, and it seems durable. (I live in Wisconsin.) Going with vinyl for our barn project for various reasons, but on a smaller building I'd definitely consider it.
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