Finite Element Modelling (FEM) based simulations are being widely used to understand the mechanical defects in the power transformer winding structure. One of the main challenges in such simulations is the accurate modelling of complex, nonlinear out-of-plane behaviour of pressboard. Complex nature of the available continuum pressboard material models has made it difficult for an average user to implement them in commercial FEM simulation tools. As a solution, this paper discusses the possibility of using the existing gasket material model for FEM simulation of pressboard parts in a power transformer winding structure. From the results, it was identified that gasket material model can be easily used to simulate the out-of-plane compression behaviour of pressboard with a reasonable accuracy.