The Norscot model of the Cat 315C L excavator was 1:141 scale. However, back in 2008 I compiled the following information showing that except for the height, the Norscot 315C L would work reasonably well for a 1:160 scale Cat 320C/320CL.
Dimensions in 1:160 scale inches of the Norscot 315C L excavator
Width as measured at widest portion of the body = 112 inches
Track gauge = 83 inches
Track width = 25 inches
Bucket width = 46 inches
Ground level to top of cab = 139 inches
And, similar dimensions for the prototype 320C/320C L Utility (assuming 24-inch shoes and standard track length)
Shipping width = 110 inches
Track gauge = 87 inches
Track width = 24 inches
Bucket width = Variable, but 48 inch is an option
Shipping height with 9 ft. 7 in. stick = 119 inches
So, if Diecast Masters is using the "old" Norscot tooling, this model may be usable in a 1:160 scale scene. However, as Neville noted, the detail on most of the 1:150 scale construction equipment models is generally better.
Here is a photo that shows the 1:160 GHQ Komatsu PC 400-LC on the left with a 1:150 TomyTec Komatsu PC 300-LC8 on the right.